Clearwater Analytics (NYSE:CWAN) Earns “Equal Weight” Rating from Morgan Stanley

Clearwater Analytics (NYSE:CWAN)‘s stock had its “equal weight” rating reissued by Morgan Stanley in a research note issued to investors on Thursday, Benzinga reports. They currently have a $19.00 price objective on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.34% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $24.00 price target on shares of Clearwater Analytics in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average target price of $21.70.

Clearwater Analytics Price Performance

CWAN stock traded up $1.40 during mid-day trading on Thursday, reaching $17.22. 1,374,946 shares of the company’s stock were exchanged, compared to its average volume of 1,214,266. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15. Clearwater Analytics has a 12-month low of $13.02 and a 12-month high of $21.89. The stock’s 50 day moving average is $17.11 and its 200 day moving average is $18.70. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -156.36, a price-to-earnings-growth ratio of 6.26 and a beta of 0.50.

Insiders Place Their Bets

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the completion of the sale, the chief executive officer now directly owns 270,838 shares in the company, valued at $5,346,342.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock worth $275,809,400 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP lifted its stake in Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after buying an additional 3,461,158 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after buying an additional 1,335,802 shares in the last quarter. Capital World Investors grew its position in shares of Clearwater Analytics by 60.5% in the 4th quarter. Capital World Investors now owns 3,051,500 shares of the company’s stock valued at $61,122,000 after buying an additional 1,150,538 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Clearwater Analytics during the 3rd quarter worth $19,506,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.