Clover Health Investments (NASDAQ:CLOV) Insider Sells 14,673 Shares of Company Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 14,673 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $4.68, for a total value of $68,669.64. Following the completion of the sale, the insider owned 1,592,698 shares of the company’s stock, valued at approximately $7,453,826.64. The trade was a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.

Karen Soares also recently made the following trade(s):

• On Tuesday, September 15th, Karen Soares sold 6,846 shares of Clover Health Investments stock. The stock was sold at an average price of $4.78, for a total value of $32,723.88.

Clover Health Investments Price Performance

Shares of CLOV stock traded down $0.04 during trading hours on Monday, reaching $4.44. 3,806,472 shares of the company traded hands, compared to its average volume of 5,925,725. Clover Health Investments, Corp. has a 12-month low of $1.58 and a 12-month high of $5.59. The company has a market cap of $2.36 billion, a P/E ratio of -88.78 and a beta of 2.45. The firm has a 50-day moving average price of $4.45 and a 200 day moving average price of $4.01.

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, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $743.17 million during 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%. Sell-side analysts predict that Clover Health Investments, Corp. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in shares of Clover Health Investments in the second quarter valued at about $6,346,000. California State Teachers Retirement System boosted its stake in shares of Clover Health Investments by 24.1% in the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after acquiring an additional 96,458 shares during the period. Tidal Investments LLC bought a new position in shares of Clover Health Investments in the second quarter worth about $2,156,000. Turtle Creek Wealth Advisors LLC boosted its stake in shares of Clover Health Investments by 29.4% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 220,000 shares of the company’s stock worth $387,000 after acquiring an additional 50,000 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Clover Health Investments during the first quarter worth about $309,000. 19.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CLOV. Zacks Research raised shares of Clover Health Investments to a “hold” rating in a report on Monday, September 14th. Wall Street Zen lowered shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They issued a “buy” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, September 21st. Finally, UBS Group raised their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.75.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover’s technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.