Teacher Retirement System of Texas Makes New $2.77 Million Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

Teacher Retirement System of Texas bought a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 878,936 shares of the company’s stock, valued at approximately $2,769,000. Teacher Retirement System of Texas owned approximately 0.18% of Clover Health Investments as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Clover Health Investments by 21.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after buying an additional 868,501 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clover Health Investments by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after acquiring an additional 150,550 shares during the period. State Street Corp boosted its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after acquiring an additional 862,621 shares in the last quarter. Swiss National Bank increased its stake in Clover Health Investments by 6.3% in the fourth quarter. Swiss National Bank now owns 802,100 shares of the company’s stock valued at $2,527,000 after acquiring an additional 47,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Clover Health Investments during the third quarter valued at approximately $1,228,000. Institutional investors own 19.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CLOV shares. Canaccord Genuity Group raised their target price on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday, March 3rd. Craig Hallum assumed coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective on the stock.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $3.87 on Wednesday. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.87. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -19.35 and a beta of 2.00. The firm has a 50 day simple moving average of $4.13 and a 200 day simple moving average of $3.68.

Insider Activity

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares of the company’s stock, valued at $8,898,795.68. This represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the sale, the director now directly owns 273,227 shares in the company, valued at $986,349.47. The trade was a 42.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,500 shares of company stock worth $1,197,500. Insiders own 22.28% of the company’s stock.

Clover Health Investments Profile

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.