Joseph Frank Oldakowski Sells 3,170 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 3,170 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $4.64, for a total value of $14,708.80. Following the completion of the sale, the vice president owned 275,897 shares in the company, valued at $1,280,162.08. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Joseph Frank Oldakowski also recently made the following trade(s):

• On Monday, September 14th, Joseph Frank Oldakowski sold 20,000 shares of Clover Health Investments stock. The shares were sold at an average price of $5.16, for a total value of $103,200.00.

Clover Health Investments Trading Down 1.8%

Shares of NASDAQ:CLOV opened at $4.46 on Friday. Clover Health Investments, Corp. has a 12-month low of $1.58 and a 12-month high of $5.59. The business has a 50 day moving average of $4.42 and a two-hundred day moving average of $3.63. The company has a market capitalization of $2.37 billion, a PE ratio of -89.18 and a beta of 2.47.

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

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLOV. ProShare Advisors LLC increased its stake in shares of Clover Health Investments by 8.2% during the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock worth $176,000 after purchasing an additional 5,660 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Clover Health Investments by 44.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company’s stock worth $43,000 after buying an additional 7,500 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Clover Health Investments in the 2nd quarter worth about $42,000. Nykredit A S purchased a new stake in Clover Health Investments during the 2nd quarter worth approximately $45,000. Finally, USAdvisors Wealth Management LLC raised its holdings in shares of Clover Health Investments by 40.0% during the first quarter. USAdvisors Wealth Management LLC now owns 35,000 shares of the company’s stock valued at $60,000 after acquiring an additional 10,000 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CLOV. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft assumed coverage on 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. Canaccord Genuity Group lifted their price target on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, July 21st. UBS Group upped their price target on Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.