Insider Selling: Clover Health Investments (NASDAQ:CLOV) Insider Sells $89,821.50 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 19,275 shares of Clover Health Investments stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $4.66, for a total value of $89,821.50. Following the sale, the insider directly owned 1,573,423 shares in the company, valued at approximately $7,332,151.18. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Soares also recently made the following trade(s):

• On Thursday, October 15th, Karen Soares sold 14,673 shares of Clover Health Investments stock. The stock was sold at an average price of $4.68, for a total value of $68,669.64.
• On Tuesday, September 15th, Karen Soares sold 6,846 shares of Clover Health Investments stock. The shares were sold at an average price of $4.78, for a total value of $32,723.88.

Clover Health Investments Stock Performance

Shares of CLOV opened at $4.73 on Friday. The company has a market capitalization of $2.51 billion, a P/E ratio of -94.58 and a beta of 2.45. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The stock has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.09.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. The company had revenue of $743.17 million for the quarter, compared to the consensus estimate of $728.27 million. As a group, equities research analysts forecast that Clover Health Investments, Corp. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC bought a new position in Clover Health Investments during the 2nd quarter worth approximately $2,156,000. Bank of New York Mellon Corp acquired a new position in shares of Clover Health Investments in the 2nd quarter worth approximately $6,346,000. WINTON GROUP Ltd acquired a new position in shares of Clover Health Investments in the 2nd quarter worth approximately $913,000. Lazard Asset Management LLC acquired a new position in shares of Clover Health Investments in the 1st quarter worth approximately $309,000. Finally, AXQ Capital LP grew its position in shares of Clover Health Investments by 602.6% in the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock worth $768,000 after acquiring an additional 125,708 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They set a “buy” rating and a $6.00 price target for the company. UBS Group upped their price target on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a research note on Monday, September 14th. Wall Street Zen downgraded shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Canaccord Genuity Group raised their price objective on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Clover Health Investments currently has an average rating of “Hold” and an average target price of $4.75.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.

The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.

Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.