Karen Soares Sells 6,846 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 6,846 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $4.78, for a total transaction of $32,723.88. Following the completion of the sale, the insider directly owned 1,607,371 shares in the company, valued at approximately $7,683,233.38. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Performance

Shares of CLOV opened at $4.56 on Thursday. The business’s 50-day moving average is $4.42 and its two-hundred day moving average is $3.60. The company has a market capitalization of $2.42 billion, a P/E ratio of -91.18 and a beta of 2.47. Clover Health Investments, Corp. has a fifty-two week low of $1.58 and a fifty-two week high of $5.59.

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

Institutional Trading of Clover Health Investments

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in Clover Health Investments in the 2nd quarter valued at $2,156,000. WINTON GROUP Ltd acquired a new position in Clover Health Investments during the second quarter worth $913,000. Nykredit A S acquired a new position in Clover Health Investments during the second quarter worth $45,000. AXQ Capital LP lifted its holdings in Clover Health Investments by 602.6% during the second quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock valued at $768,000 after purchasing an additional 125,708 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Clover Health Investments by 20.0% in the second quarter. Headlands Technologies LLC now owns 72,378 shares of the company’s stock valued at $379,000 after purchasing an additional 12,065 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLOV has been the topic of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. UBS Group boosted their target price on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Clover Health Investments to a “hold” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.75.

Clover Health Investments Company Profile

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.