Clearwater Analytics (NYSE:CWAN) Shares Gap Down – Time to Sell?

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) gapped down before the market opened on Tuesday . The stock had previously closed at $31.02, but opened at $28.80. Clearwater Analytics shares last traded at $29.39, with a volume of 2,797,017 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their target price on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Piper Sandler upped their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Stock Performance

The stock’s 50 day moving average is $25.91 and its two-hundred day moving average is $22.14. The firm has a market capitalization of $7.35 billion, a P/E ratio of 3,105.11, a P/E/G ratio of 11.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.78.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,864,693 shares of company stock worth $45,128,342. Insiders own 3.46% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently made changes to their positions in the business. Thornburg Investment Management Inc. boosted its position in Clearwater Analytics by 31.7% during the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after purchasing an additional 79,707 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after buying an additional 23,971 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Clearwater Analytics in the first quarter valued at $825,000. Jane Street Group LLC increased its holdings in Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after buying an additional 186,273 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Clearwater Analytics in the second quarter valued at $1,797,000. Institutional investors own 50.10% of the company’s stock.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.