Karen Soares Sells 4,681 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) insider Karen Soares sold 4,681 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $4.61, for a total value of $21,579.41. Following the transaction, the insider directly owned 1,567,741 shares in the company, valued at $7,227,286.01. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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

NASDAQ:CLOV opened at $4.81 on Tuesday. Clover Health Investments, Corp. has a 1 year low of $1.58 and a 1 year high of $5.18. The stock has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $2.57. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -40.08 and a beta of 2.54.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CLOV shares. UBS Group upped their target price on shares of Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research report on Thursday. Leerink Partners reduced their price target on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Weiss Ratings reissued 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 “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Canaccord Genuity Group lifted their price objective on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.82.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds have recently added to or reduced their stakes in CLOV. AQR Capital Management LLC purchased a new stake in shares of Clover Health Investments in the first quarter valued at about $49,000. Integrated Wealth Concepts LLC acquired a new position in shares of Clover Health Investments during the 1st quarter worth approximately $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Clover Health Investments by 3.0% during 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 purchasing an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Clover Health Investments in the 2nd quarter valued at approximately $31,000. Finally, JPMorgan Chase & Co. lifted its stake in Clover Health Investments by 41.6% in 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 in the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Company Profile

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.