Key Points
- Clover Health VP Joseph Frank Oldakowski sold 3,170 shares at an average price of $4.64, generating $14,708.80. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, leaving him with 275,897 shares.
- Oldakowski had also sold 20,000 shares for $103,200 two days earlier, while Clover shares opened at $4.54 and traded within a 52-week range of $1.58 to $5.59.
- Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $4.75. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.05 EPS and $743.17 million in revenue.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) VP Joseph Frank Oldakowski sold 3,170 shares of the business's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $4.64, for a total value of $14,708.80. Following the completion of the sale, the vice president directly owned 275,897 shares in the company, valued at approximately $1,280,162.08. This represents a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.
Joseph Frank Oldakowski also recently made the following trade(s):
- On Monday, September 14th, Joseph Frank Oldakowski sold 20,000 shares of Clover Health Investments stock. The shares were sold at an average price of $5.16, for a total value of $103,200.00.
Clover Health Investments Stock Performance
Shares of NASDAQ CLOV opened at $4.54 on Friday. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $5.59. The business has a fifty day moving average of $4.42 and a two-hundred day moving average of $3.62. The stock has a market cap of $2.41 billion, a PE ratio of -90.78 and a beta of 2.47.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. Analysts predict that Clover Health Investments, Corp. will post 0.06 earnings per share for the current year.
Wall Street Analyst Weigh In
CLOV has been the topic of several recent analyst reports. Wall Street Zen downgraded Clover Health Investments from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Zacks Research raised Clover Health Investments to a "hold" rating in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. UBS Group increased their target price on Clover Health Investments from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Clover Health Investments in a research note on Thursday, September 10th. They issued a "buy" rating and a $6.00 target price for the company. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.75.
Read Our Latest Stock Analysis on CLOV
Institutional Trading of Clover Health Investments
Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Clover Health Investments in the second quarter valued at approximately $6,346,000. Tidal Investments LLC acquired a new position in Clover Health Investments during the 2nd quarter worth $2,156,000. WINTON GROUP Ltd bought a new position in Clover Health Investments in the 2nd quarter valued at $913,000. California State Teachers Retirement System boosted its position in Clover Health Investments by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 497,006 shares of the company's stock valued at $875,000 after buying an additional 96,458 shares during the last quarter. Finally, AXQ Capital LP increased its stake in shares of Clover Health Investments by 602.6% in the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company's stock valued at $768,000 after buying an additional 125,708 shares during the period. 19.77% of the stock is owned by institutional investors.
Clover Health Investments Company Profile
(
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.
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