Clover Health Investments (NASDAQ:CLOV) Insider Karen Soares Sells 6,846 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 6,846 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $4.78, for a total value of $32,723.88. Following the completion of the transaction, the insider owned 1,607,371 shares in the company, valued at $7,683,233.38. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $4.66 on Wednesday. The stock has a market cap of $2.48 billion, a P/E ratio of -93.18 and a beta of 2.47. The stock’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $3.59. Clover Health Investments, Corp. has a 1-year low of $1.58 and a 1-year high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm 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%. As a group, research analysts expect that Clover Health Investments, Corp. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group increased their price target 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. UBS Group upped their target price on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a report on Thursday, September 10th. They issued a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.75.

Institutional Trading of Clover Health Investments

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Clover Health Investments during the second quarter valued at approximately $6,346,000. Lazard Asset Management LLC acquired a new position in Clover Health Investments in the 1st quarter valued at $309,000. WINTON GROUP Ltd purchased a new position in shares of Clover Health Investments during the 2nd quarter worth $913,000. AXQ Capital LP lifted its stake in shares of Clover Health Investments by 602.6% during the 2nd 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. Finally, State of Wyoming grew its position in shares of Clover Health Investments by 21.3% in the first quarter. State of Wyoming now owns 93,213 shares of the company’s stock valued at $164,000 after purchasing an additional 16,352 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.

The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.