Key Points
- Insider sale: Karen Soares sold 6,846 Clover Health shares at an average price of $4.78, generating $32,723.88. The Rule 10b5-1 transaction covered tax withholding tied to vested equity awards, leaving her with 1,607,371 shares.
- Stock and financial performance: CLOV opened at $4.66, with a market capitalization of approximately $2.48 billion and a one-year trading range of $1.58 to $5.59. In its latest quarter, the company reported $0.05 in EPS and $743.17 million in revenue, both above analyst expectations.
- Analyst outlook: Ratings remain mixed, with two Buy, three Hold and one Sell recommendation. The consensus rating is Hold, with an average price target of $4.75, although recent targets range from $5.00 to $6.00.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) insider Karen Soares sold 6,846 shares of Clover Health Investments stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.78, for a total transaction of $32,723.88. Following the transaction, the insider directly owned 1,607,371 shares in the company, valued at approximately $7,683,233.38. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Clover Health Investments Stock Performance
Shares of NASDAQ:CLOV opened at $4.66 on Wednesday. The business's 50-day simple moving average is $4.42 and its 200 day simple moving average is $3.59. The company has a market cap of $2.48 billion, a P/E ratio of -93.18 and a beta of 2.47. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. The firm had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million. Analysts predict that Clover Health Investments, Corp. will post 0.06 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on CLOV shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Clover Health Investments in a report on Wednesday, June 24th. UBS Group boosted their price target on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on Clover Health Investments in a report on Thursday, September 10th. They issued a "buy" rating and a $6.00 price objective for the company. Canaccord Genuity Group increased their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded Clover Health Investments from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Clover Health Investments has a consensus rating of "Hold" and a consensus price target of $4.75.
View Our Latest Stock Report on CLOV
Institutional Investors Weigh In On Clover Health Investments
Several institutional investors have recently made changes to their positions in CLOV. ProShare Advisors LLC increased its position in shares of Clover Health Investments by 8.2% during the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company's stock worth $176,000 after acquiring an additional 5,660 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Clover Health Investments by 44.1% during the first quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company's stock worth $43,000 after acquiring an additional 7,500 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Clover Health Investments in the 2nd quarter valued at $42,000. Nykredit A S bought a new stake in Clover Health Investments in the 2nd quarter valued at $45,000. Finally, USAdvisors Wealth Management LLC boosted its stake in Clover Health Investments by 40.0% in the 1st quarter. USAdvisors Wealth Management LLC now owns 35,000 shares of the company's stock worth $60,000 after purchasing an additional 10,000 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.
About Clover Health Investments
(
Get Free Report)
Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.
The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.
Further Reading
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