Brady Patrick Priest Sells 98,039 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Brady Patrick Priest sold 98,039 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total transaction of $345,097.28. Following the completion of the transaction, the chief executive officer owned 2,040,222 shares in the company, valued at $7,181,581.44. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brady Patrick Priest also recently made the following trade(s):

• On Wednesday, March 4th, Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00.

Clover Health Investments Stock Down 0.6%

Shares of Clover Health Investments stock opened at $3.47 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of -28.91 and a beta of 2.44. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $3.92. The firm’s 50 day moving average is $2.24 and its two-hundred day moving average is $2.41.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. As a group, research analysts expect that Clover Health Investments, Corp. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its position in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after acquiring an additional 6,527 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Clover Health Investments during the first quarter worth approximately $37,000. Envestnet Asset Management Inc. acquired a new stake in shares of Clover Health Investments during the second quarter worth $31,000. Abel Hall LLC purchased a new position in Clover Health Investments in the 4th quarter valued at $27,000. Finally, Quadrature Capital Ltd purchased a new position in Clover Health Investments in the 4th quarter valued at $29,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. 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 on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Clover Health Investments has an average rating of “Hold” and an average target price 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.