Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $4.25 Average PT from Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.25.

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Finally, UBS Group upped their price target on shares of Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a report on Thursday, June 11th.

Insider Transactions at Clover Health Investments

In related news, CEO Conrad Wai sold 220,426 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $879,499.74. Following the completion of the transaction, the chief executive officer owned 1,390,056 shares in the company, valued at approximately $5,546,323.44. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Frank Oldakowski sold 12,102 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total transaction of $58,815.72. Following the completion of the transaction, the vice president directly owned 299,067 shares of the company’s stock, valued at approximately $1,453,465.62. This trade represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 715,884 shares of company stock worth $3,202,372. Company insiders own 23.51% of the company’s stock.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in shares of Clover Health Investments during the 1st quarter worth approximately $49,000. Integrated Wealth Concepts LLC acquired a new position in shares of Clover Health Investments during the 1st quarter worth about $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Clover Health Investments by 3.0% during the 1st 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 purchasing an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Clover Health Investments in the 2nd quarter valued at about $31,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Clover Health Investments by 41.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock valued at $1,768,000 after purchasing an additional 186,047 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $4.33 on Thursday. The firm’s 50 day simple moving average is $4.59 and its 200 day simple moving average is $3.12. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $5.59. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -36.08 and a beta of 2.48.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (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 firm had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million.

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.