Clover Health Investments (NASDAQ:CLOV) VP Joseph Frank Oldakowski Sells 12,102 Shares

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 12,102 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total transaction of $58,815.72. Following the completion of the transaction, the vice president owned 299,067 shares in the company, valued at $1,453,465.62. This represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Clover Health Investments Stock Up 2.7%

NASDAQ:CLOV opened at $4.94 on Wednesday. The company has a fifty day moving average of $3.18 and a 200 day moving average of $2.59. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $5.18. The firm has a market capitalization of $2.60 billion, a P/E ratio of -41.16 and a beta of 2.54.

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

Hedge Funds Weigh In On Clover Health Investments

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

Analysts Set New Price Targets

Several research firms have weighed in on CLOV. Leerink Partners dropped their price objective 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. Canaccord Genuity Group boosted their target price on Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a research note on Thursday, June 4th. UBS Group upped their target price on Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a report on Thursday, June 11th. Wall Street Zen raised Clover Health Investments from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. One investment analyst has 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. Based on data from MarketBeat.com, Clover Health Investments currently has a consensus rating of “Hold” and an average price target of $3.82.

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.