Clearwater Analytics (NYSE:CWAN) Shares Gap Down – Should You Sell?

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) gapped down before the market opened on Tuesday . The stock had previously closed at $31.08, but opened at $29.75. Clearwater Analytics shares last traded at $29.78, with a volume of 1,225,084 shares.

Analyst Ratings Changes

Several brokerages have recently commented on CWAN. The Goldman Sachs Group increased their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup began coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. DA Davidson lowered shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their target price for the company from $31.00 to $35.00 in a report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price target on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.67.

Clearwater Analytics Stock Down 4.2 %

The company has a market capitalization of $7.35 billion, a P/E ratio of 2,980.98, a PEG ratio of 11.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a 50 day moving average of $27.91 and a 200-day moving average of $23.55.

Insider Activity

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. The trade was a 37.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,770 shares of company stock valued at $1,826,606. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its stake in Clearwater Analytics by 22.3% during the first quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after acquiring an additional 23,971 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after purchasing an additional 186,273 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth approximately $1,797,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Clearwater Analytics in the 3rd quarter worth approximately $3,677,000. Finally, Loomis Sayles & Co. L P increased its position in Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after buying an additional 327,880 shares in the last quarter. Institutional investors 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.