Clover Health Investments (NASDAQ:CLOV) CEO Andrew Toy Sells 87,798 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Andrew Toy sold 87,798 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $4.65, for a total transaction of $408,260.70. Following the transaction, the chief executive officer directly owned 9,459,316 shares in the company, valued at $43,985,819.40. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Andrew Toy also recently made the following trade(s):

• On Wednesday, July 1st, Andrew Toy sold 313,476 shares of Clover Health Investments stock. The stock was sold at an average price of $5.32, for a total transaction of $1,667,692.32.

Clover Health Investments Stock Down 4.0%

CLOV stock traded down $0.19 during trading on Monday, reaching $4.57. The stock had a trading volume of 5,468,977 shares, compared to its average volume of 6,511,482. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The company’s 50 day moving average is $4.64 and its two-hundred day moving average is $3.17. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -91.38 and a beta of 2.48.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.35%. The firm had revenue of $743.17 million for the quarter, compared to analysts’ expectations of $728.27 million.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently added to or reduced their stakes in CLOV. Lazard Asset Management LLC purchased a new position in Clover Health Investments during the 1st quarter valued at about $309,000. Vanguard Group Inc. increased its position in shares of Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after buying an additional 425,904 shares during the period. RFG Advisory LLC purchased a new stake in shares of Clover Health Investments in the first quarter worth about $35,000. Ketron Financial purchased a new stake in shares of Clover Health Investments in the fourth quarter worth about $39,000. Finally, AXQ Capital LP bought a new position in shares of Clover Health Investments in the fourth quarter valued at approximately $89,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

CLOV has been the topic of several research analyst reports. Wall Street Zen raised Clover Health Investments from a “buy” rating to a “strong-buy” rating in a research report on Saturday. UBS Group lifted their target price on Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group increased their price target on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One 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, the stock has an average rating of “Hold” and a consensus price target of $4.33.

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.