Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) CEO Andrew Toy sold 62,176 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $4.68, for a total transaction of $290,983.68. Following the transaction, the chief executive officer owned 9,078,334 shares in the company, valued at approximately $42,486,603.12. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.
Andrew Toy also recently made the following trade(s):
- On Thursday, October 1st, Andrew Toy sold 318,806 shares of Clover Health Investments stock. The shares were sold at an average price of $4.19, for a total value of $1,335,797.14.
- On Monday, August 10th, Andrew Toy sold 87,798 shares of Clover Health Investments stock. The stock was sold at an average price of $4.65, for a total value of $408,260.70.
Clover Health Investments Trading Down 0.9%
Shares of NASDAQ:CLOV traded down $0.04 on Monday, hitting $4.44. 3,806,472 shares of the company were exchanged, compared to its average volume of 5,925,725. The stock’s 50 day moving average price is $4.45 and its 200 day moving average price is $4.01. Clover Health Investments, Corp. has a 1-year low of $1.58 and a 1-year high of $5.59. The firm has a market capitalization of $2.36 billion, a P/E ratio of -88.78 and a beta of 2.45.
Clover Health Investments (NASDAQ:CLOV – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $743.17 million during the quarter, compared to analyst estimates of $728.27 million. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. On average, equities analysts predict that Clover Health Investments, Corp. will post 0.06 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in Clover Health Investments in the 2nd quarter worth approximately $2,156,000. Bank of New York Mellon Corp acquired a new stake in Clover Health Investments during the second quarter worth about $6,346,000. WINTON GROUP Ltd acquired a new position in shares of Clover Health Investments in the second quarter valued at $913,000. Lazard Asset Management LLC bought a new position in shares of Clover Health Investments during the 1st quarter worth about $309,000. Finally, AXQ Capital LP lifted its stake in Clover Health Investments by 602.6% during the second quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock worth $768,000 after purchasing an additional 125,708 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CLOV shares. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, September 21st. UBS Group increased their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a research note on Monday, September 14th. Wall Street Zen cut Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clover Health Investments in a research note on Thursday, September 10th. They issued a “buy” rating and a $6.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.75.
Get Our Latest Research Report on CLOV
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.
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