Clover Health Investments (NASDAQ:CLOV) VP Joseph Frank Oldakowski Sells 12,102 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total transaction of $58,815.72. Following the sale, the vice president owned 299,067 shares of the company’s stock, valued at $1,453,465.62. The trade was a 3.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

NASDAQ:CLOV opened at $4.80 on Thursday. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.18. The firm has a market cap of $2.53 billion, a P/E ratio of -40.00 and a beta of 2.54. The firm has a 50-day simple moving average of $3.24 and a 200-day simple moving average of $2.60.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million during the quarter, compared to the consensus estimate of $714.89 million.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLOV. Canaccord Genuity Group boosted their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. UBS Group lifted their price objective on shares of Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Finally, Leerink Partners cut their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Clover Health Investments has a consensus rating of “Hold” and a consensus price target of $3.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLOV. Divisadero Street Capital Management LP purchased a new position in shares of Clover Health Investments in the 3rd quarter worth approximately $8,470,000. Bank of America Corp DE grew its position in shares of Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after buying an additional 2,748,783 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Clover Health Investments by 69.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after buying an additional 1,494,043 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Clover Health Investments in the 2nd quarter worth approximately $4,149,000. Finally, UBS Group AG grew its position in shares of Clover Health Investments by 155.5% in the 3rd quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after buying an additional 1,388,761 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

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.