Clover Health Investments (NASDAQ:CLOV) Stock: Insider Conrad Wai Sells 23,627 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Conrad Wai sold 23,627 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $4.68, for a total transaction of $110,574.36. Following the sale, the chief executive officer directly owned 1,042,072 shares of the company’s stock, valued at approximately $4,876,896.96. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the SEC, 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.

Conrad Wai also recently made the following trade(s):

• On Tuesday, September 15th, Conrad Wai sold 300,000 shares of Clover Health Investments stock. The shares were sold at an average price of $4.72, for a total transaction of $1,416,000.00.

Clover Health Investments Stock Down 0.9%

CLOV traded down $0.04 during trading on Monday, reaching $4.44. The company’s stock had a trading volume of 3,806,472 shares, compared to its average volume of 5,925,725. The firm has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $4.01. Clover Health Investments, Corp. has a 1 year low of $1.58 and a 1 year high of $5.59. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -88.78 and a beta of 2.45.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business 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%. As a group, equities analysts forecast that Clover Health Investments, Corp. will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Clover Health Investments in the 2nd quarter valued at approximately $42,000. Nykredit A S purchased a new stake in shares of Clover Health Investments during the 2nd quarter valued at approximately $45,000. Ballew Advisors Inc purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at approximately $44,000. WNY Asset Management LLC purchased a new stake in shares of Clover Health Investments during the 2nd quarter valued at approximately $69,000. Finally, RFG Advisory LLC purchased a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $35,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research raised Clover Health Investments to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, September 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Clover Health Investments in a research note on Thursday, September 10th. They issued a “buy” rating and a $6.00 target price for the company. UBS Group lifted 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 lowered Clover Health Investments from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.75.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover’s technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.