Andrew Toy Sells 87,798 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Andrew Toy sold 87,798 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $4.65, for a total transaction of $408,260.70. Following the completion of the transaction, the chief executive officer directly owned 9,459,316 shares in the company, valued at $43,985,819.40. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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.

Andrew Toy also recently made the following trade(s):

• On Wednesday, July 1st, Andrew Toy sold 313,476 shares of Clover Health Investments stock. The stock was sold at an average price of $5.32, for a total value of $1,667,692.32.

Clover Health Investments Trading Down 3.9%

Shares of NASDAQ:CLOV opened at $4.39 on Wednesday. The firm has a market cap of $2.31 billion, a P/E ratio of -87.78 and a beta of 2.47. Clover Health Investments, Corp. has a twelve month low of $1.58 and a twelve month high of $5.59. The company has a 50 day moving average of $4.67 and a 200-day moving average of $3.20.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data 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 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 4.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CLOV. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. UBS Group upped their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Canaccord Genuity Group raised their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Clover Health Investments from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.33.

Hedge Funds Weigh In On Clover Health Investments

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of Clover Health Investments during the first quarter worth approximately $49,000. Integrated Wealth Concepts LLC acquired a new position in Clover Health Investments in the 1st quarter valued at approximately $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Clover Health Investments by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock worth $3,070,000 after buying an additional 24,807 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Clover Health Investments in the 2nd quarter worth approximately $31,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Clover Health Investments by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock valued at $1,768,000 after buying an additional 186,047 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.