Insider Selling: Clover Health Investments (NASDAQ:CLOV) CEO Sells $345,097.28 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Brady Patrick Priest sold 98,039 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total value of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares of the company’s stock, valued at approximately $7,181,581.44. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Brady Patrick Priest also recently made the following trade(s):

• On Wednesday, March 4th, Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock. The shares were sold at an average price of $2.17, for a total value of $379,750.00.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $3.47 on Friday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -28.91 and a beta of 2.44. The business has a 50 day simple moving average of $2.24 and a 200 day simple moving average of $2.41. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. On average, analysts predict that Clover Health Investments, Corp. will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Divisadero Street Capital Management LP acquired a new position in Clover Health Investments during the 3rd quarter worth $8,470,000. Principal Financial Group Inc. lifted its holdings in shares of Clover Health Investments by 1,590.3% during the third quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock worth $1,485,000 after buying an additional 456,715 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Clover Health Investments by 104.9% during the fourth quarter. SG Americas Securities LLC now owns 59,046 shares of the company’s stock worth $139,000 after buying an additional 30,223 shares during the last quarter. Finally, Choreo LLC lifted its holdings in shares of Clover Health Investments by 34.9% during the fourth quarter. Choreo LLC now owns 386,922 shares of the company’s stock worth $925,000 after buying an additional 100,120 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Canaccord Genuity Group reduced their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a report on Friday, March 20th. Finally, Leerink Partners reduced their target price on 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. One analyst has 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 MarketBeat, Clover Health Investments has a consensus rating of “Hold” and an average target price of $2.90.

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.