Insider Selling: Clover Health Investments (NASDAQ:CLOV) Insider Sells $32,723.88 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 6,846 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $4.78, for a total transaction of $32,723.88. Following the transaction, the insider owned 1,607,371 shares in the company, valued at approximately $7,683,233.38. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Down 0.4%

Shares of NASDAQ:CLOV opened at $4.54 on Friday. The company has a market cap of $2.41 billion, a P/E ratio of -90.78 and a beta of 2.47. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $5.59. The company has a 50-day moving average price of $4.42 and a 200 day moving average price of $3.62.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results 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. The company had revenue of $743.17 million for the quarter, compared to analysts’ expectations of $728.27 million. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. Analysts expect that Clover Health Investments, Corp. will post 0.06 EPS for the current year.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently bought and sold shares of CLOV. Bank of New York Mellon Corp purchased a new stake in shares of Clover Health Investments in the second quarter valued at about $6,346,000. California State Teachers Retirement System increased its stake in shares of Clover Health Investments by 24.1% during the 1st 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 in the last quarter. Tidal Investments LLC purchased a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $2,156,000. Turtle Creek Wealth Advisors LLC raised its position in shares of Clover Health Investments by 29.4% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 220,000 shares of the company’s stock worth $387,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Clover Health Investments during the 1st quarter worth approximately $309,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLOV has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Canaccord Genuity Group increased their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. Two research analysts have 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.com, the stock currently has an average rating of “Hold” and an average target price of $4.75.

About Clover Health Investments

Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.

The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.