Geode Capital Management LLC Has $13.62 Million Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Geode Capital Management LLC increased its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,828,701 shares of the company's stock after buying an additional 868,501 shares during the quarter. Geode Capital Management LLC owned 0.97% of Clover Health Investments worth $13,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLOV. Forum Financial Management LP lifted its position in Clover Health Investments by 33.8% during the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock worth $45,000 after buying an additional 4,061 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Clover Health Investments by 98.9% during the third quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company's stock worth $57,000 after acquiring an additional 9,988 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Clover Health Investments during the third quarter valued at approximately $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments during the third quarter valued at approximately $29,000. Finally, SignalPoint Asset Management LLC grew its stake in Clover Health Investments by 8.1% in the third quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company's stock valued at $425,000 after purchasing an additional 11,318 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CLOV shares. UBS Group began coverage on Clover Health Investments in a report on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective for the company. 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.

Clover Health Investments Trading Down 1.3 %

Shares of CLOV traded down $0.04 during mid-day trading on Tuesday, reaching $3.15. The company's stock had a trading volume of 6,421,151 shares, compared to its average volume of 7,662,417. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.71. The business has a 50-day simple moving average of $3.46 and a two-hundred day simple moving average of $2.80. The stock has a market cap of $1.58 billion, a P/E ratio of -15.75 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $330.99 million during the quarter, compared to analysts' expectations of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same period in the previous year, the business posted ($0.09) earnings per share. Research analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

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.