Joseph Frank Oldakowski Sells 12,102 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total transaction of $58,815.72. Following the transaction, the vice president directly owned 299,067 shares of the company’s stock, valued at approximately $1,453,465.62. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Price Performance

NASDAQ:CLOV opened at $4.94 on Wednesday. The firm has a market capitalization of $2.60 billion, a P/E ratio of -41.16 and a beta of 2.54. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.18. The company’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $2.59.

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 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 for the quarter, compared to the consensus estimate of $714.89 million.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLOV. 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 note on Thursday, June 4th. Leerink Partners reduced 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. UBS Group lifted their price target on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.82.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in shares of Clover Health Investments by 24.1% in the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after purchasing an additional 96,458 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Clover Health Investments in the 1st quarter worth about $309,000. Sei Investments Co. raised its position in Clover Health Investments by 109.7% in the 1st quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock worth $156,000 after buying an additional 46,404 shares during the last quarter. State of Wyoming raised its position in Clover Health Investments by 21.3% in the 1st quarter. State of Wyoming now owns 93,213 shares of the company’s stock worth $164,000 after buying an additional 16,352 shares during the last quarter. Finally, R Squared Ltd bought a new position in Clover Health Investments during the 1st quarter valued at about $66,000. 19.77% of the stock is owned by 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.