ExodusPoint Capital Management LP Invests $646,000 in Clover Health Investments, Corp. (NASDAQ:CLOV)

ExodusPoint Capital Management LP purchased a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 204,952 shares of the company's stock, valued at approximately $646,000.

Several other institutional investors have also recently made changes to their positions in the business. Graypoint LLC bought a new position in shares of Clover Health Investments in the fourth quarter worth about $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Clover Health Investments during the 3rd quarter worth approximately $1,228,000. JPMorgan Chase & Co. purchased a new position in Clover Health Investments during the third quarter valued at approximately $448,000. State Street Corp boosted its position in shares of Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company's stock worth $6,174,000 after purchasing an additional 862,621 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of Clover Health Investments in the third quarter worth $477,000. Institutional investors own 19.77% of the company's stock.

Insider Activity

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares in the company, valued at $8,898,795.68. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3.61, for a total value of $722,000.00. Following the completion of the sale, the director now directly owns 273,227 shares in the company, valued at approximately $986,349.47. The trade was a 42.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,500 shares of company stock worth $1,197,500 over the last quarter. Insiders own 22.28% of the company's stock.

Clover Health Investments Trading Down 2.6 %

CLOV traded down $0.10 on Thursday, hitting $3.60. 1,184,486 shares of the company's stock traded hands, compared to its average volume of 6,762,172. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.87. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -17.97 and a beta of 1.98. The company's 50 day simple moving average is $3.84 and its 200-day simple moving average is $3.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted 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.

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.