Clover Health Investments (NASDAQ:CLOV) VP Sells $14,708.80 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 3,170 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $4.64, for a total value of $14,708.80. Following the sale, the vice president owned 275,897 shares of the company’s stock, valued at $1,280,162.08. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Joseph Frank Oldakowski also recently made the following trade(s):

• On Monday, September 14th, Joseph Frank Oldakowski sold 20,000 shares of Clover Health Investments stock. The shares were sold at an average price of $5.16, for a total transaction of $103,200.00.

Clover Health Investments Stock Performance

Clover Health Investments stock traded down $0.02 during trading on Thursday, reaching $4.54. 3,689,705 shares of the company’s stock were exchanged, compared to its average volume of 6,127,158. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $5.59. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -90.78 and a beta of 2.47. The company’s 50-day moving average is $4.42 and its two-hundred day moving average is $3.60.

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

Analysts Set New Price Targets

A number of research analysts have commented on CLOV shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Clover Health Investments in a research note on Thursday, September 10th. They set a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group raised their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Wall Street Zen lowered Clover Health Investments from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Zacks Research upgraded Clover Health Investments to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.75.

Institutional Trading of Clover Health Investments

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in Clover Health Investments in the second quarter worth approximately $2,156,000. Bank of New York Mellon Corp purchased a new position in Clover Health Investments in the 2nd quarter worth about $6,346,000. Lazard Asset Management LLC purchased a new position in shares of Clover Health Investments in the first quarter worth approximately $309,000. WINTON GROUP Ltd acquired a new stake in Clover Health Investments during the 2nd quarter valued at $913,000. Finally, AXQ Capital LP raised its position 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 buying an additional 125,708 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.