Brokerages Set Clover Health Investments, Corp. (NASDAQ:CLOV) Target Price at $4.33

Clover Health Investments, Corp. (NASDAQ:CLOVGet Free Report) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $4.3333.

CLOV has been the subject of a number of research reports. Wall Street Zen cut Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. UBS Group raised their target price on Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Canaccord Genuity Group lifted their target price on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, July 21st.

Get Our Latest Research Report on CLOV

Insider Activity at Clover Health Investments

In other news, CEO Andrew Toy sold 313,476 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.32, for a total value of $1,667,692.32. Following the sale, the chief executive officer directly owned 9,609,825 shares in the company, valued at approximately $51,124,269. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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. Also, VP Joseph Frank Oldakowski sold 12,102 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total value of $58,815.72. Following the completion of the sale, the vice president owned 299,067 shares in the company, valued at approximately $1,453,465.62. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 418,057 shares of company stock valued at $2,156,348 in the last three months. 23.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock worth $55,192,000 after buying an additional 425,904 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Clover Health Investments by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company’s stock worth $23,013,000 after buying an additional 70,801 shares during the period. State Street Corp raised its holdings in Clover Health Investments by 4.1% in the fourth quarter. State Street Corp now owns 9,320,183 shares of the company’s stock valued at $21,902,000 after acquiring an additional 368,507 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Clover Health Investments by 9.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock worth $11,024,000 after acquiring an additional 419,389 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Clover Health Investments by 217.5% in the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after acquiring an additional 2,748,783 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

Clover Health Investments stock opened at $4.23 on Monday. The company’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $3.37. Clover Health Investments has a 1 year low of $1.58 and a 1 year high of $5.59. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -84.58 and a beta of 2.47.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm 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%.

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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Analyst Recommendations for Clover Health Investments (NASDAQ:CLOV)

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