Key Points
- Clover Health CEO Brady Patrick Priest sold 98,039 shares on Wednesday at an average price of $3.52, totaling about $345,097. After the sale, he still owned 2,040,222 shares, a 4.58% reduction in his stake.
- The sale came after a prior insider transaction in March, when Priest sold 175,000 shares for about $379,750, indicating continued insider selling activity.
- Clover Health’s recent operating and stock performance remains mixed: the company reported Q1 EPS of $0.05, below expectations, while revenue beat estimates at $749.19 million. The stock was trading around $3.49, near its 52-week high of $3.92, but analysts currently rate it a consensus Hold.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) CEO Brady Patrick Priest sold 98,039 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total transaction of $345,097.28. Following the completion of the transaction, the chief executive officer owned 2,040,222 shares in the company, valued at approximately $7,181,581.44. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Brady Patrick Priest also recently made the following trade(s):
- On Wednesday, March 4th, Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00.
Clover Health Investments Trading Down 1.7%
NASDAQ:CLOV opened at $3.49 on Friday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -29.08 and a beta of 2.44. Clover Health Investments, Corp. has a 1 year low of $1.58 and a 1 year high of $3.92. The firm has a 50 day moving average of $2.21 and a 200-day moving average of $2.40.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The business had revenue of $749.19 million for the quarter, compared to the consensus estimate of $714.89 million. As a group, analysts forecast that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.
Institutional Investors Weigh In On Clover Health Investments
A number of institutional investors and hedge funds have recently modified their holdings of the business. Abel Hall LLC acquired a new position in Clover Health Investments in the fourth quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company's stock worth $29,000 after acquiring an additional 6,527 shares during the period. Quadrature Capital Ltd acquired a new stake in Clover Health Investments during the 4th quarter worth $29,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Clover Health Investments during the 4th quarter valued at $29,000. Finally, Envestnet Asset Management Inc. bought a new stake in Clover Health Investments in the second quarter valued at about $31,000. 19.77% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on CLOV. Canaccord Genuity Group reduced their price target on shares of Clover Health Investments from $3.70 to $3.20 and set a "buy" rating on the stock in a research report on Friday, March 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Clover Health Investments in a research report on Friday, March 27th. Wall Street Zen raised shares of Clover Health Investments from a "sell" rating to a "hold" rating in a research note on Sunday, February 15th. Finally, Leerink Partners reduced their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a "market perform" rating on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2.90.
View Our Latest Stock Report on CLOV
About Clover Health Investments
(
Get Free Report)
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.
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