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

KLP Kapitalforvaltning AS acquired a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 86,600 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $8,461,000 after purchasing an additional 150,550 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Clover Health Investments during the third quarter worth about $271,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Clover Health Investments in the 3rd quarter valued at approximately $1,228,000. Verition Fund Management LLC bought a new stake in Clover Health Investments in the 3rd quarter valued at approximately $411,000. Finally, HighTower Advisors LLC bought a new stake in Clover Health Investments in the 3rd quarter valued at approximately $97,000. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Stock Performance

CLOV opened at $3.33 on Monday. The business’s 50-day simple moving average is $4.02 and its 200 day simple moving average is $3.72. Clover Health Investments, Corp. has a 52-week low of $0.61 and a 52-week high of $4.87. The firm has a market capitalization of $1.70 billion, a PE ratio of -16.65 and a beta of 1.98.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CLOV shares. Canaccord Genuity Group raised their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price for the company.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 273,227 shares in the company, valued at $986,349.47. The trade was a 42.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction 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 trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,500 shares of company stock valued at $1,197,500 in the last 90 days. 22.28% of the stock is currently owned by insiders.

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.