Clover Health Investments (NASDAQ:CLOV) Stock: Insider Karen Soares Sells 19,275 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 19,275 shares of Clover Health Investments stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $4.66, for a total value of $89,821.50. Following the sale, the insider owned 1,573,423 shares in the company, valued at $7,332,151.18. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 15th, Karen Soares sold 14,673 shares of Clover Health Investments stock. The shares were sold at an average price of $4.68, for a total value of $68,669.64.
• On Tuesday, September 15th, Karen Soares sold 6,846 shares of Clover Health Investments stock. The shares were sold at an average price of $4.78, for a total value of $32,723.88.

Clover Health Investments Trading Down 0.4%

Clover Health Investments stock opened at $4.78 on Thursday. The stock has a market cap of $2.54 billion, a P/E ratio of -95.58 and a beta of 2.45. The stock has a 50 day moving average of $4.46 and a 200-day moving average of $4.07. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $5.59.

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

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Clover Health Investments during the second quarter valued at approximately $42,000. Nykredit A S acquired a new position in shares of Clover Health Investments during the second quarter worth approximately $45,000. Ballew Advisors Inc acquired a new position in shares of Clover Health Investments during the third quarter worth approximately $44,000. Nisa Investment Advisors LLC grew its holdings in Clover Health Investments by 223.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,855 shares of the company’s stock worth $47,000 after buying an additional 7,498 shares in the last quarter. Finally, WNY Asset Management LLC bought a new position in Clover Health Investments in the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Canaccord Genuity Group raised their price objective 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 reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a research note on Thursday, September 10th. They issued a “buy” rating and a $6.00 target price on the stock. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a research note on Monday, September 14th. Finally, Wall Street Zen cut shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently 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 health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.

The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.

Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.