Clover Health Investments (NASDAQ:CLOV) VP Sells $58,815.72 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOVGet Free Report) VP Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total value of $58,815.72. Following the sale, the vice president directly owned 299,067 shares of the company’s stock, valued at $1,453,465.62. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 Stock Performance

CLOV opened at $5.00 on Friday. Clover Health Investments, Corp. has a 12-month low of $1.58 and a 12-month high of $5.18. The firm has a market capitalization of $2.63 billion, a PE ratio of -41.66 and a beta of 2.54. The firm has a 50 day moving average of $3.36 and a two-hundred day moving average of $2.64.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%.

Institutional Investors Weigh In On Clover Health Investments

Hedge funds have recently modified their holdings of the company. Abel Hall LLC purchased a new position in shares of Clover Health Investments in the 4th quarter valued at about $27,000. Allworth Financial LP grew its holdings in Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Clover Health Investments in the fourth quarter valued at approximately $29,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clover Health Investments during the 4th quarter worth approximately $29,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $31,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. UBS Group upped their target price on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Leerink Partners dropped their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One equities research analyst has 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.82.

View Our Latest Stock Analysis on CLOV

About Clover Health Investments

(Get Free Report)

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.

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