Clover Health Investments (NASDAQ:CLOV) Insider Karen Soares Sells 4,681 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 4,681 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $4.61, for a total value of $21,579.41. Following the completion of the sale, the insider owned 1,567,741 shares in the company, valued at $7,227,286.01. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Stock Up 1.7%

CLOV opened at $4.81 on Tuesday. The firm has a market cap of $2.53 billion, a P/E ratio of -40.08 and a beta of 2.54. The business’s fifty day simple moving average is $3.11 and its 200 day simple moving average is $2.57. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $5.18.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CLOV shares. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Leerink Partners reduced their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. UBS Group raised their price objective on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued 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 target price of $3.82.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Divisadero Street Capital Management LP acquired a new stake in Clover Health Investments during the third quarter worth about $8,470,000. Principal Financial Group Inc. lifted its stake in shares of Clover Health Investments by 1,590.3% in the 3rd quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after purchasing an additional 456,715 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Clover Health Investments by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after purchasing an additional 425,904 shares in the last quarter. USAdvisors Wealth Management LLC purchased a new stake in shares of Clover Health Investments during the 4th quarter worth about $58,000. Finally, Pictet Asset Management Holding SA increased its position in Clover Health Investments by 33.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 81,643 shares of the company’s stock worth $192,000 after purchasing an additional 20,409 shares in the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.