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 dated Tuesday, September 15th. The stock was sold at an average price of $4.78, for a total transaction of $32,723.88. Following the completion of the transaction, the insider owned 1,607,371 shares in the company, valued at $7,683,233.38. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Trading Down 8.6%

Shares of Clover Health Investments stock traded down $0.44 on Tuesday, hitting $4.66. 9,652,118 shares of the company traded hands, compared to its average volume of 3,439,936. The stock’s 50 day moving average price is $4.43 and its 200-day moving average price is $3.57. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $5.59. The company has a market cap of $2.48 billion, a PE ratio of -93.18 and a beta of 2.47.

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

Institutional Trading of Clover Health Investments

A number of hedge funds have recently bought and sold shares of CLOV. ProShare Advisors LLC boosted its position in Clover Health Investments by 8.2% during the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after acquiring an additional 5,660 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Clover Health Investments by 44.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company’s stock worth $43,000 after acquiring an additional 7,500 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Clover Health Investments during the 2nd quarter worth $42,000. Nykredit A S purchased a new stake in shares of Clover Health Investments during the 2nd quarter worth $45,000. Finally, USAdvisors Wealth Management LLC boosted its position in Clover Health Investments by 40.0% during the first quarter. USAdvisors Wealth Management LLC now owns 35,000 shares of the company’s stock valued at $60,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

CLOV has been the topic of a number of recent research reports. UBS Group increased their price target on Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a report on Thursday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.75.

About Clover Health Investments

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.