Clover Health Investments (NASDAQ:CLOV) Trading Down 3.5% - What's Next?

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) traded down 3.5% during mid-day trading on Wednesday . The company traded as low as $3.70 and last traded at $3.68. 718,880 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 6,919,230 shares. The stock had previously closed at $3.81.

Analyst Ratings Changes

Several brokerages have recently commented on CLOV. Craig Hallum started coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a "buy" rating and a $6.00 price objective on the stock. Canaccord Genuity Group raised their price target on Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a report on Monday, March 3rd.

Clover Health Investments Stock Up 1.6 %

The firm's fifty day moving average price is $4.13 and its 200 day moving average price is $3.64. The stock has a market cap of $1.90 billion, a PE ratio of -18.60 and a beta of 2.00.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of 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 trade represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Karen Soares sold 52,500 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the sale, the general counsel now owns 1,299,663 shares in the company, valued at $4,938,719.40. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock valued at $1,197,500 in the last 90 days. Insiders own 22.28% of the company's stock.

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Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently added to or reduced their stakes in CLOV. Phoenix Financial Ltd. boosted its holdings in shares of Clover Health Investments by 6.8% in the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock worth $123,000 after purchasing an additional 2,500 shares during the period. Steph & Co. raised its stake in shares of Clover Health Investments by 33.3% in the fourth 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 period. Parallax Volatility Advisers L.P. raised its stake in shares of Clover Health Investments by 47.7% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after acquiring an additional 6,408 shares during the period. Arizona State Retirement System lifted its holdings in shares of Clover Health Investments by 6.3% in the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock worth $373,000 after acquiring an additional 6,990 shares during the last quarter. Finally, SignalPoint Asset Management LLC boosted its stake in shares of Clover Health Investments by 6.2% during the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company's stock worth $504,000 after purchasing an additional 9,390 shares during the period. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Company Profile

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.