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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) shares gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on CWAN shares. The Goldman Sachs Group raised their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. DA Davidson downgraded Clearwater Analytics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $35.00 in a research report on Friday. Morgan Stanley lifted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Stock Down 3.8 %

The stock has a fifty day moving average of $25.91 and a 200-day moving average of $22.14. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 3,105.11, a PEG ratio of 11.56 and a beta of 0.61. The company has a current ratio of 4.66, a quick ratio of 4.78 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling

In related 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 in the company, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Subi Sethi sold 21,497 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the transaction, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 13,700 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. 3.46% of the stock is owned by corporate insiders.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at approximately $45,000. Financial Management Professionals Inc. bought a new stake in Clearwater Analytics in the third quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Clearwater Analytics during the 3rd quarter valued at $117,000. Institutional investors and hedge funds 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.