Insider Selling: Clover Health Investments (NASDAQ:CLOV) Director Sells $229,687.20 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 67,160 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the sale, the director owned 285,432 shares in the company, valued at $976,177.44. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $3.60 on Friday. Clover Health Investments, Corp. has a fifty-two week low of $1.58 and a fifty-two week high of $3.92. The company has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $2.39. The company has a market capitalization of $1.90 billion, a PE ratio of -30.00 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The firm had revenue of $749.19 million during the quarter, compared to the consensus estimate of $714.89 million. Research analysts predict that Clover Health Investments, Corp. will post -0.02 EPS for the current year.

Analyst Ratings Changes

CLOV has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Leerink Partners cut 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 note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.90.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in shares of Clover Health Investments by 24.1% during the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after acquiring an additional 96,458 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Clover Health Investments during the 1st quarter valued at about $309,000. Sei Investments Co. boosted its stake in Clover Health Investments by 109.7% during the 1st quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock valued at $156,000 after purchasing an additional 46,404 shares during the last quarter. State of Wyoming increased its holdings in Clover Health Investments by 21.3% during the 1st quarter. State of Wyoming now owns 93,213 shares of the company’s stock worth $164,000 after purchasing an additional 16,352 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Clover Health Investments during the 1st quarter worth approximately $66,000. 19.77% of the stock is owned by institutional investors.

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.