KLP Kapitalforvaltning AS Takes $273,000 Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

KLP Kapitalforvaltning AS purchased a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 86,600 shares of the company's stock, valued at approximately $273,000.

A number of other institutional investors have also modified their holdings of CLOV. Charles Schwab Investment Management Inc. grew its stake in Clover Health Investments by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company's stock worth $8,461,000 after acquiring an additional 150,550 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Clover Health Investments during the third quarter worth $271,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments in the third quarter valued at $1,228,000. Verition Fund Management LLC acquired a new position in Clover Health Investments in the third quarter valued at $411,000. Finally, HighTower Advisors LLC acquired a new position in Clover Health Investments in the third quarter valued at $97,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Clover Health Investments Stock Performance

Clover Health Investments stock traded up $0.01 during midday trading on Friday, reaching $3.68. The stock had a trading volume of 5,039,863 shares, compared to its average volume of 6,838,878. The stock's 50-day simple moving average is $3.89 and its 200 day simple moving average is $3.74. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.87. The stock has a market capitalization of $1.88 billion, a PE ratio of -18.40 and a beta of 1.98.

Insider Transactions at Clover Health Investments

In other news, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the sale, the general counsel now owns 1,299,663 shares of the company's stock, valued at $4,938,719.40. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the transaction, the director now directly owns 273,227 shares in the company, valued at approximately $986,349.47. This represents 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 in the last three months. 22.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CLOV has been the subject of several recent analyst reports. Craig Hallum started coverage on Clover Health Investments in a report on Tuesday, December 17th. They issued a "buy" rating and a $6.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of 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 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.