Karen Soares Sells 52,500 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the transaction, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Clover Health Investments Trading Down 0.8 %

Shares of CLOV opened at $3.64 on Friday. The business’s fifty day simple moving average is $4.08 and its two-hundred day simple moving average is $3.62. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.87. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -18.20 and a beta of 2.00.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLOV. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group raised their price objective on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a research report on Monday, March 3rd.

Institutional Trading of Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in the business. Phoenix Financial Ltd. boosted its stake in Clover Health Investments by 6.8% during the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock valued at $123,000 after purchasing an additional 2,500 shares during the last quarter. Steph & Co. boosted its stake in shares of Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after buying an additional 5,000 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its stake in shares of Clover Health Investments by 47.7% in the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock worth $63,000 after buying an additional 6,408 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Clover Health Investments by 6.3% in the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after buying an additional 6,990 shares during the last quarter. Finally, SignalPoint Asset Management LLC boosted its stake in shares of Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after buying an additional 9,390 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.