Insider Selling: Clover Health Investments (NASDAQ:CLOV) CEO Sells $408,260.70 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Andrew Toy sold 87,798 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $4.65, for a total transaction of $408,260.70. Following the completion of the sale, the chief executive officer owned 9,459,316 shares of the company’s stock, valued at $43,985,819.40. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Toy also recently made the following trade(s):

• On Wednesday, July 1st, Andrew Toy sold 313,476 shares of Clover Health Investments stock. The shares were sold at an average price of $5.32, for a total transaction of $1,667,692.32.

Clover Health Investments Price Performance

CLOV stock opened at $4.54 on Thursday. The stock has a market capitalization of $2.39 billion, a PE ratio of -90.78 and a beta of 2.47. The company’s 50-day moving average is $4.69 and its 200-day moving average is $3.21. Clover Health Investments, Corp. has a 1 year low of $1.58 and a 1 year high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.35% and a negative net margin of 0.74%.The company had revenue of $743.17 million during the quarter, compared to the consensus estimate of $728.27 million.

Analysts Set New Price Targets

Several research firms have recently commented on CLOV. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Wall Street Zen upgraded Clover Health Investments from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. UBS Group lifted their price target on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.33.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after buying an additional 425,904 shares during the last quarter. Geode Capital Management LLC raised its position in Clover Health Investments by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company’s stock valued at $23,013,000 after buying an additional 70,801 shares during the last quarter. State Street Corp raised its position in Clover Health Investments by 4.1% in the 4th quarter. State Street Corp now owns 9,320,183 shares of the company’s stock valued at $21,902,000 after buying an additional 368,507 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Clover Health Investments by 9.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock valued at $11,024,000 after acquiring an additional 419,389 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after acquiring an additional 2,748,783 shares in the last quarter. 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.