JPMorgan Chase & Co. Has $1.36 Million Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

JPMorgan Chase & Co. raised its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 172.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 432,268 shares of the company's stock after buying an additional 273,348 shares during the period. JPMorgan Chase & Co. owned about 0.09% of Clover Health Investments worth $1,362,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Steph & Co. boosted its position in shares of 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 acquiring an additional 5,000 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Clover Health Investments during the 3rd quarter worth approximately $105,000. Ballentine Partners LLC purchased a new stake in shares of Clover Health Investments in the 4th quarter valued at $131,000. Palacios Wealth Management LLC purchased a new stake in Clover Health Investments during the fourth quarter worth $131,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Clover Health Investments during the fourth quarter worth $135,000. Institutional investors own 19.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price target on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a research note on Monday, March 3rd.

Insider Activity

In other news, General Counsel Karen Soares sold 52,500 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the transaction, the general counsel now directly owns 1,299,663 shares in the company, valued at $4,938,719.40. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the sale, the director now owns 273,227 shares of the company's stock, valued at $986,349.47. This represents a 42.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is currently owned by corporate insiders.

Clover Health Investments Stock Up 1.2 %

Shares of CLOV traded up $0.04 during trading hours on Monday, reaching $3.47. 4,422,647 shares of the company traded hands, compared to its average volume of 6,828,490. The stock has a fifty day simple moving average of $3.69 and a 200 day simple moving average of $3.74. Clover Health Investments, Corp. has a fifty-two week low of $0.63 and a fifty-two week high of $4.87. The stock has a market capitalization of $1.77 billion, a PE ratio of -17.35 and a beta of 1.98.

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.