Clover Health Investments (NASDAQ:CLOV) Shares Down 11.1% - Time to Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) fell 11.1% during mid-day trading on Monday . The stock traded as low as $2.80 and last traded at $2.96. 2,637,586 shares traded hands during trading, a decline of 61% from the average session volume of 6,773,574 shares. The stock had previously closed at $3.33.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a "buy" rating and a $6.00 price target for the company. Canaccord Genuity Group raised their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research note on Monday, March 3rd.

Clover Health Investments Stock Up 0.3 %

The company's fifty day simple moving average is $3.89 and its 200 day simple moving average is $3.74. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -18.40 and a beta of 1.98.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now directly owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,500 shares of company stock worth $1,197,500. Insiders own 22.28% of the company's stock.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Clover Health Investments in the third quarter valued at approximately $1,228,000. Verition Fund Management LLC acquired a new stake in Clover Health Investments during the third quarter worth approximately $411,000. HighTower Advisors LLC bought a new position in Clover Health Investments during the 3rd quarter worth $97,000. Janus Henderson Group PLC acquired a new position in Clover Health Investments in the 3rd quarter valued at $477,000. Finally, State Street Corp lifted its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company's stock valued at $6,174,000 after acquiring an additional 862,621 shares during the period. Institutional investors own 19.77% of the company's stock.

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.