Clover Health Investments, Corp. (NASDAQ:CLOV) General Counsel Karen Soares Sells 52,500 Shares of Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the transaction, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at $4,938,719.40. This represents a 3.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Clover Health Investments Trading Down 0.8 %

NASDAQ CLOV opened at $3.64 on Friday. The stock’s 50 day moving average is $4.08 and its 200 day moving average is $3.62. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.87. The stock has a market cap of $1.82 billion, a PE ratio of -18.20 and a beta of 2.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC purchased a new position in Clover Health Investments in the 3rd quarter worth approximately $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments in the 3rd quarter worth approximately $29,000. Parallax Volatility Advisers L.P. purchased a new position in Clover Health Investments in the 3rd quarter worth approximately $38,000. Triumph Capital Management purchased a new position in Clover Health Investments in the 4th quarter worth approximately $45,000. Finally, KBC Group NV purchased a new position in Clover Health Investments in the 3rd quarter worth approximately $53,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Clover Health Investments

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.