Morgan Stanley Reiterates “Equal Weight” Rating for Clearwater Analytics (NYSE:CWAN)

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

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler restated a “neutral” rating and issued a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. DA Davidson reaffirmed a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Finally, Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and an average target price of $21.70.

Clearwater Analytics Trading Up 8.8 %

NYSE:CWAN traded up $1.40 during mid-day trading on Thursday, reaching $17.22. 1,374,946 shares of the company’s stock traded hands, compared to its average volume of 1,214,266. The company has a 50 day moving average price of $17.11 and a 200-day moving average price of $18.70. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -156.36, a PEG ratio of 6.26 and a beta of 0.50. 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.

Insider Activity at Clearwater Analytics

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 stock was 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 SEC, which is available through the SEC website. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s 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 SEC, which is accessible through this link. Also, CFO James S. Cox sold 10,000 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 $197,400.00. Following the sale, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Insiders sold a total of 16,310,000 shares of company stock valued at $275,809,400 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in shares of Clearwater Analytics by 33.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after acquiring an additional 616 shares during the period. Natixis Advisors L.P. boosted its position in Clearwater Analytics by 1.4% in the fourth quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock worth $885,000 after purchasing an additional 616 shares during the last quarter. KLR Investment Advisors LLC increased its position in shares of Clearwater Analytics by 5.0% during the 4th quarter. KLR Investment Advisors LLC now owns 16,939 shares of the company’s stock valued at $339,000 after purchasing an additional 801 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in shares of Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after purchasing an additional 1,207 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

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.