Performa Ltd US LLC Reduces Stake in Clover Health Investments, Corp. (NASDAQ:CLOV)

Performa Ltd US LLC lessened its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 82.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,250 shares of the company’s stock after selling 44,750 shares during the quarter. Clover Health Investments comprises about 0.0% of Performa Ltd US LLC’s investment portfolio, making the stock its 23rd biggest position. Performa Ltd US LLC’s holdings in Clover Health Investments were worth $29,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sigma Planning Corp acquired a new stake in Clover Health Investments during the 3rd quarter valued at $29,000. Parallax Volatility Advisers L.P. acquired a new stake in Clover Health Investments during the 3rd quarter valued at $38,000. KBC Group NV acquired a new stake in Clover Health Investments during the 3rd quarter valued at $53,000. Steph & Co. grew its holdings in Clover Health Investments by 33.3% during the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Clover Health Investments during the 3rd quarter valued at $97,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Stock Up 5.8 %

CLOV stock opened at $3.66 on Monday. Clover Health Investments, Corp. has a 52-week low of $0.61 and a 52-week high of $4.87. The stock’s fifty day simple moving average is $4.12 and its 200-day simple moving average is $3.63. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -18.30 and a beta of 2.00.

Insider Buying and Selling

In related news, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction on Thursday, March 6th. The stock was 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 approximately $4,938,719.40. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 273,227 shares in the company, valued at $986,349.47. This trade represents 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 have sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.