Optimize Financial Inc Makes New Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

Optimize Financial Inc acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 84,229 shares of the company's stock, valued at approximately $265,000.

Other institutional investors have also recently made changes to their positions in the company. Graypoint LLC purchased a new stake in Clover Health Investments during the 4th quarter valued at $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments during the third quarter worth about $1,228,000. JPMorgan Chase & Co. bought a new stake in shares of Clover Health Investments in the third quarter worth about $448,000. State Street Corp increased its holdings in 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 purchasing an additional 862,621 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Clover Health Investments during the 3rd quarter valued at about $477,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a research report on Monday, March 3rd.

Insiders Place Their Bets

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now owns 273,227 shares of the company's stock, valued at $986,349.47. The trade was a 42.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Karen Soares sold 52,500 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the transaction, the general counsel now owns 1,299,663 shares of the company's stock, valued at $4,938,719.40. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,500 shares of company stock worth $1,197,500. Company insiders own 22.28% of the company's stock.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV traded down $0.09 during midday trading on Friday, hitting $3.60. 3,940,279 shares of the company traded hands, compared to its average volume of 6,774,746. Clover Health Investments, Corp. has a 12-month low of $0.61 and a 12-month high of $4.87. The stock has a 50-day moving average price of $3.83 and a 200 day moving average price of $3.76. The firm has a market cap of $1.84 billion, a P/E ratio of -18.00 and a beta of 1.98.

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.