Clover Health Investments (NASDAQ:CLOV) CEO Conrad Wai Sells 220,426 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Conrad Wai sold 220,426 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $3.99, for a total value of $879,499.74. Following the completion of the transaction, the chief executive officer directly owned 1,390,056 shares in the company, valued at $5,546,323.44. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Clover Health Investments Price Performance

Shares of CLOV opened at $4.18 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of -34.83 and a beta of 2.44. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $4.23. The business’s 50 day simple moving average is $2.53 and its 200-day simple moving average is $2.42.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%. On average, sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Abel Hall LLC acquired a new position in Clover Health Investments during the 4th quarter worth $27,000. Allworth Financial LP lifted its holdings in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after buying an additional 6,527 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Clover Health Investments during the 4th quarter worth $29,000. Schonfeld Strategic Advisors LLC acquired a new position in Clover Health Investments during the 4th quarter worth $29,000. Finally, Envestnet Asset Management Inc. acquired a new position in Clover Health Investments during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

CLOV has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Canaccord Genuity Group decreased their price objective on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a report on Friday, March 20th. Finally, Leerink Partners reduced their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Clover Health Investments presently has a consensus rating of “Hold” and an average price target of $2.90.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.