The Goldman Sachs Group Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $20.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 31.03% from the company’s current price.

A number of other brokerages have also recently commented on CWAN. Royal Bank of Canada boosted their target price on shares of Clearwater Analytics from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $33.00 in a report on Thursday. Citigroup started coverage on Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Piper Sandler raised their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price objective on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Price Performance

CWAN stock opened at $31.90 on Thursday. The firm has a 50-day moving average of $25.79 and a 200 day moving average of $21.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The company has a market cap of $7.86 billion, a P/E ratio of -1,594.25, a PEG ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Subi Sethi sold 21,497 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the sale, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,693 shares of company stock worth $45,128,342 over the last quarter. Company insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently made changes to their positions in the business. TimesSquare Capital Management LLC lifted its position in shares of Clearwater Analytics by 5.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,851,879 shares of the company’s stock worth $32,760,000 after buying an additional 100,339 shares in the last quarter. Swiss National Bank boosted its stake in Clearwater Analytics by 21.4% during the first quarter. Swiss National Bank now owns 288,300 shares of the company’s stock worth $5,100,000 after buying an additional 50,800 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Clearwater Analytics during the 1st quarter valued at about $825,000. Sei Investments Co. raised its holdings in shares of Clearwater Analytics by 24.4% in the first quarter. Sei Investments Co. now owns 1,586,565 shares of the company’s stock worth $28,066,000 after buying an additional 311,499 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Clearwater Analytics by 42.5% during the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after purchasing an additional 3,090,352 shares during the last quarter. Institutional investors 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.