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

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 4,681 shares of Clover Health Investments stock in a transaction dated 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 of the company’s stock, valued at $7,227,286.01. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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

CLOV stock opened at $4.80 on Thursday. The business has a 50-day moving average price of $3.24 and a 200 day moving average price of $2.60. The company has a market capitalization of $2.53 billion, a P/E ratio of -40.00 and a beta of 2.54. Clover Health Investments, Corp. has a 1-year low of $1.58 and a 1-year high of $5.18.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data 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 the consensus estimate of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently modified their holdings of CLOV. AQR Capital Management LLC purchased a new stake in shares of Clover Health Investments during the first quarter worth about $49,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Clover Health Investments during the first quarter worth about $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Clover Health Investments by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock worth $3,070,000 after acquiring an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Clover Health Investments during the second quarter worth about $31,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Clover Health Investments by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock worth $1,768,000 after acquiring an additional 186,047 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Canaccord Genuity Group lifted their target price 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Leerink Partners cut their target price 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 lifted their target price on Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. 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, the company presently has a consensus rating of “Hold” and an average price target of $3.82.

About Clover Health Investments

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.