Wedbush Securities Inc. Sells 161,000 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Wedbush Securities Inc. reduced its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 94.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,000 shares of the company’s stock after selling 161,000 shares during the period. Wedbush Securities Inc.’s holdings in Clover Health Investments were worth $32,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Steph & Co. grew its stake in Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Clover Health Investments in the fourth quarter worth $84,000. HighTower Advisors LLC purchased a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $97,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Clover Health Investments during the third quarter worth about $105,000. Finally, Ballentine Partners LLC bought a new position in shares of Clover Health Investments in the fourth quarter worth approximately $131,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clover Health Investments

In other news, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the sale, the general counsel now owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,500 shares of company stock worth $1,197,500 over the last three months. Company insiders own 22.28% of the company’s stock.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock opened at $3.68 on Friday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -18.40 and a beta of 1.98. The company has a fifty day moving average of $3.89 and a 200-day moving average of $3.74. Clover Health Investments, Corp. has a 52-week low of $0.61 and a 52-week high of $4.87.

Analysts Set New Price Targets

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

About Clover Health Investments

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.