Clover Health Investments (NASDAQ:CLOV) Director Carladenise Armbrister Edwards Sells 67,160 Shares of Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 67,160 shares of Clover Health Investments stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $3.42, for a total transaction of $229,687.20. Following the completion of the transaction, the director directly owned 285,432 shares in the company, valued at approximately $976,177.44. The trade was a 19.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clover Health Investments Stock Up 3.2%

Shares of Clover Health Investments stock opened at $3.50 on Wednesday. The firm’s 50 day moving average price is $2.30 and its 200-day moving average price is $2.39. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $3.92. The company has a market cap of $1.84 billion, a P/E ratio of -29.16 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data 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). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The firm had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. As a group, equities research analysts forecast that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Clover Health Investments

Institutional investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP acquired a new stake in Clover Health Investments in the 3rd quarter worth approximately $8,470,000. Principal Financial Group Inc. boosted its stake in Clover Health Investments by 1,590.3% in the 3rd quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock worth $1,485,000 after purchasing an additional 456,715 shares in the last quarter. Vanguard Group Inc. lifted its stake in Clover Health Investments by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after acquiring an additional 425,904 shares during the period. ProShare Advisors LLC lifted its stake in Clover Health Investments by 8.2% during the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after acquiring an additional 5,660 shares during the period. Finally, USAdvisors Wealth Management LLC acquired a new stake in Clover Health Investments during the 4th quarter valued at approximately $58,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Canaccord Genuity Group lowered their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. Finally, Leerink Partners lowered their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note 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 stock. According to MarketBeat, Clover Health Investments has an average rating of “Hold” and an average price target 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.