Clover Health Investments (NASDAQ:CLOV) Insider Karen Soares Sells 4,681 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 4,681 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $4.61, for a total value of $21,579.41. Following the sale, the insider owned 1,567,741 shares in the company, valued at approximately $7,227,286.01. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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.

Clover Health Investments Trading Up 2.7%

Shares of CLOV opened at $4.94 on Wednesday. The company has a 50-day moving average of $3.18 and a two-hundred day moving average of $2.59. The stock has a market cap of $2.60 billion, a P/E ratio of -41.16 and a beta of 2.54. Clover Health Investments, Corp. has a 12-month low of $1.58 and a 12-month high of $5.18.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The company had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLOV. Divisadero Street Capital Management LP acquired a new stake in Clover Health Investments in the 3rd quarter valued at approximately $8,470,000. Bank of America Corp DE lifted its position in Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after buying an additional 2,748,783 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Clover Health Investments by 69.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after purchasing an additional 1,494,043 shares during the period. First Trust Advisors LP acquired a new position in Clover Health Investments during the second quarter valued at approximately $4,149,000. Finally, UBS Group AG increased its stake in Clover Health Investments by 155.5% during the 3rd quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after purchasing an additional 1,388,761 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Leerink Partners decreased their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. UBS Group increased their price objective on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, Canaccord Genuity Group lifted their target price on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Clover Health Investments presently has an average rating of “Hold” and a consensus price target of $3.82.

About Clover Health Investments

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.