Clearwater Analytics (NYSE:CWAN) Downgraded by DA Davidson to Neutral

DA Davidson downgraded shares of Clearwater Analytics (NYSE:CWAN) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $35.00 price objective on the stock, up from their prior price objective of $31.00.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Citigroup began coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Down 2.8 %

Clearwater Analytics stock opened at $31.02 on Friday. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 3,105.11, a price-to-earnings-growth ratio of 11.56 and a beta of 0.61. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The business’s 50-day moving average price is $25.91 and its 200 day moving average price is $22.14. The company has a quick ratio of 4.78, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The disclosure for this sale can be found here. Insiders sold 1,864,693 shares of company stock valued at $45,128,342 in the last ninety days. Insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in Clearwater Analytics in the 3rd quarter valued at about $717,000. Advisors Asset Management Inc. increased its position in Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after acquiring an additional 995 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Clearwater Analytics during the 3rd quarter worth approximately $3,677,000. Pathstone Holdings LLC increased its position in Clearwater Analytics by 6.1% during the 3rd quarter. Pathstone Holdings LLC now owns 94,970 shares of the company’s stock worth $2,398,000 after purchasing an additional 5,432 shares during the period. Finally, Lindenwold Advisors INC acquired a new position in Clearwater Analytics during the 3rd quarter worth approximately $239,000. 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.