Carladenise Armbrister Edwards Sells 200,000 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now directly owns 273,227 shares of the company’s stock, valued at approximately $986,349.47. The trade was a 42.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Clover Health Investments Price Performance

CLOV opened at $3.36 on Wednesday. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.87. The company’s 50 day simple moving average is $4.09 and its 200-day simple moving average is $3.62. The stock has a market capitalization of $1.72 billion, a P/E ratio of -16.80 and a beta of 2.00.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC bought a new position in Clover Health Investments in the third quarter valued at approximately $28,000. Sigma Planning Corp bought a new position in Clover Health Investments in the third quarter valued at approximately $29,000. Parallax Volatility Advisers L.P. bought a new position in Clover Health Investments in the third quarter valued at approximately $38,000. Triumph Capital Management bought a new position in Clover Health Investments in the fourth quarter valued at approximately $45,000. Finally, KBC Group NV bought a new position in Clover Health Investments in the third quarter valued at approximately $53,000. 19.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CLOV has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a report on Monday, March 3rd. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock.

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.