Insider Selling: Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Sells 75,000 Shares of Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) CEO Brady Patrick Priest sold 75,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the sale, the chief executive officer now owns 2,418,151 shares in the company, valued at $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Clover Health Investments Trading Down 0.8 %

CLOV opened at $3.64 on Friday. The company’s 50 day moving average is $4.08 and its 200-day moving average is $3.62. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.87. The company has a market cap of $1.82 billion, a P/E ratio of -18.20 and a beta of 2.00.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently made changes to their positions in CLOV. Marshall Wace LLP boosted its stake in shares of Clover Health Investments by 167.6% in the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after purchasing an additional 2,360,902 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Clover Health Investments by 5,071.2% in the 4th quarter. Millennium Management LLC now owns 1,245,701 shares of the company’s stock valued at $3,924,000 after purchasing an additional 1,221,612 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Clover Health Investments in the 4th quarter valued at approximately $2,769,000. Geode Capital Management LLC raised 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 last quarter. Finally, State Street Corp raised 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 last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company 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.