Clover Health Investments, Corp. (NASDAQ:CLOV) Director Sells $722,000.00 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now owns 273,227 shares of the company’s stock, valued at $986,349.47. This trade represents a 42.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Clover Health Investments Trading Down 4.2 %

Shares of CLOV opened at $3.46 on Friday. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.87. The firm’s 50 day moving average is $4.11 and its 200-day moving average is $3.62. The stock has a market capitalization of $1.77 billion, a PE ratio of -17.30 and a beta of 2.00.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently added to or reduced their stakes in CLOV. Vanguard Group Inc. lifted its position in shares of Clover Health Investments by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock valued at $61,693,000 after acquiring an additional 386,499 shares during the period. Geode Capital Management LLC raised its stake in Clover Health Investments by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock valued at $15,387,000 after purchasing an additional 53,760 shares in the last quarter. Marshall Wace LLP lifted its position in Clover Health Investments by 167.6% during the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock worth $11,875,000 after purchasing an additional 2,360,902 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Clover Health Investments by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after buying an additional 150,550 shares in the last quarter. Finally, State Street Corp increased its holdings in Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after buying an additional 862,621 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.