Insider Selling: Clover Health Investments (NASDAQ:CLOV) Insider Sells $21,579.41 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 4,681 shares of Clover Health Investments stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $4.61, for a total value of $21,579.41. Following the transaction, the insider owned 1,567,741 shares of the company’s stock, valued at $7,227,286.01. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Clover Health Investments Trading Up 4.2%

CLOV stock opened at $5.00 on Friday. The firm has a market capitalization of $2.63 billion, a PE ratio of -41.66 and a beta of 2.54. Clover Health Investments, Corp. has a 1-year low of $1.58 and a 1-year high of $5.18. The business’s 50 day simple moving average is $3.30 and its 200 day simple moving average is $2.62.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million during the quarter, compared to the consensus estimate of $714.89 million.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently modified their holdings of the business. Divisadero Street Capital Management LP acquired a new stake in Clover Health Investments in the 3rd quarter worth about $8,470,000. Bank of America Corp DE boosted its holdings in Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after purchasing an additional 2,748,783 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Clover Health Investments by 69.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after purchasing an additional 1,494,043 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $4,149,000. Finally, UBS Group AG increased its holdings in shares of Clover Health Investments by 155.5% during the third quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after purchasing an additional 1,388,761 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLOV has been the subject of a number of research reports. UBS Group raised their target price on shares of Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Canaccord Genuity Group boosted their price objective on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Wall Street Zen raised Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Leerink Partners dropped their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.82.

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.