Arizona State Retirement System Purchases 6,990 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Arizona State Retirement System lifted its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 6.3% in the 4th quarter, Holdings Channel reports. The fund owned 118,265 shares of the company’s stock after buying an additional 6,990 shares during the quarter. Arizona State Retirement System’s holdings in Clover Health Investments were worth $373,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Sigma Planning Corp bought a new position in Clover Health Investments during the third quarter worth about $29,000. KBC Group NV purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at approximately $53,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Clover Health Investments by 75.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after buying an additional 485,987 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Clover Health Investments by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock valued at $8,461,000 after acquiring an additional 150,550 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Clover Health Investments during the third quarter worth $271,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Price Performance

CLOV stock opened at $3.66 on Friday. The firm has a 50 day simple moving average of $4.12 and a two-hundred day simple moving average of $3.62. The stock has a market cap of $1.87 billion, a PE ratio of -18.30 and a beta of 2.00. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.87.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of the company’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 value of $722,000.00. Following the completion of the sale, the director now owns 273,227 shares of the company’s stock, valued at $986,349.47. This represents a 42.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $199,500.00. Following the transaction, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,500 shares of company stock valued at $1,197,500. Insiders own 22.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CLOV shares. Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group upped their target price 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.

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.