Carladenise Armbrister Edwards Sells 200,000 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the transaction, the director now directly owns 273,227 shares in the company, valued at $986,349.47. This trade represents a 42.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $3.61 on Thursday. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.87. The firm has a market cap of $1.84 billion, a PE ratio of -18.05 and a beta of 2.00. The company has a 50-day moving average of $4.10 and a two-hundred day moving average of $3.62.

Wall Street Analyst Weigh In

CLOV has been the topic of several analyst reports. Craig Hallum began coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group raised their target price on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd.

Institutional Trading of Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its position in Clover Health Investments by 167.6% in the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after purchasing an additional 2,360,902 shares during the period. Millennium Management LLC grew its stake in shares of Clover Health Investments by 5,071.2% in the fourth quarter. Millennium Management LLC now owns 1,245,701 shares of the company’s stock valued at $3,924,000 after buying an additional 1,221,612 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Clover Health Investments in the 4th quarter valued at $2,769,000. Geode Capital Management LLC lifted its stake in Clover Health Investments by 21.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock worth $13,622,000 after acquiring an additional 868,501 shares in the last quarter. Finally, State Street Corp boosted its holdings in Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.