Clover Health Investments (NASDAQ:CLOV) Stock: Insider Andrew Toy Sells 318,806 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Andrew Toy sold 318,806 shares of Clover Health Investments stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $4.19, for a total value of $1,335,797.14. Following the sale, the chief executive officer owned 9,140,510 shares of the company’s stock, valued at approximately $38,298,736.90. This trade represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.

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

• On Monday, August 10th, Andrew Toy sold 87,798 shares of Clover Health Investments stock. The shares were sold at an average price of $4.65, for a total transaction of $408,260.70.

Clover Health Investments Stock Performance

Clover Health Investments stock traded up $0.15 during mid-day trading on Friday, hitting $4.38. 3,855,119 shares of the company traded hands, compared to its average volume of 5,984,461. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -87.58 and a beta of 2.45. The stock has a fifty day moving average price of $4.39 and a 200-day moving average price of $3.79.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. The firm had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million. Sell-side analysts predict that Clover Health Investments, Corp. will post 0.06 EPS for the current year.

Institutional Trading of Clover Health Investments

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Clover Health Investments during the 2nd quarter valued at about $6,346,000. California State Teachers Retirement System lifted its holdings in Clover Health Investments by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after buying an additional 96,458 shares during the period. Tidal Investments LLC bought a new stake in shares of Clover Health Investments in the 2nd quarter worth approximately $2,156,000. Turtle Creek Wealth Advisors LLC grew its position in shares of Clover Health Investments by 29.4% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 220,000 shares of the company’s stock worth $387,000 after buying an additional 50,000 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Clover Health Investments during the first quarter valued at approximately $309,000. 19.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, September 21st. Canaccord Genuity Group increased their target price 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 lowered Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Clover Health Investments in a research note on Thursday, September 10th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, UBS Group raised their target price on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.