JPMorgan Chase & Co. Trims Clearwater Analytics (NYSE:CWAN) Target Price to $20.00

Clearwater Analytics (NYSE:CWAN) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $22.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.81% from the company’s current price.

CWAN has been the topic of several other reports. DA Davidson reissued a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Piper Sandler reissued a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. Finally, Wells Fargo & Company lowered their target price on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.80.

Clearwater Analytics Stock Performance

CWAN traded up $1.45 during midday trading on Thursday, hitting $17.27. 1,039,730 shares of the company were exchanged, compared to its average volume of 1,209,115. The company’s 50 day simple moving average is $17.11 and its 200 day simple moving average is $18.70. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a 1-year low of $13.02 and a 1-year high of $21.89. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -156.27, a price-to-earnings-growth ratio of 6.26 and a beta of 0.50.

Insider Activity at Clearwater Analytics

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

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently made changes to their positions in CWAN. Wasatch Advisors LP increased its holdings in shares of Clearwater Analytics by 35.6% during the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. increased its holdings in Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 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 purchasing an additional 1,335,802 shares during the last quarter. Capital World Investors increased its holdings in 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 purchasing an additional 1,150,538 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Clearwater Analytics in the 3rd quarter valued at approximately $19,506,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

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.