Geode Capital Management LLC Grows Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Geode Capital Management LLC raised its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,882,461 shares of the company’s stock after purchasing an additional 53,760 shares during the period. Geode Capital Management LLC’s holdings in Clover Health Investments were worth $15,387,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Steph & Co. increased its holdings in shares of Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after acquiring an additional 5,000 shares during the period. Arizona State Retirement System grew its stake in Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock valued at $373,000 after purchasing an additional 6,990 shares during the last quarter. SignalPoint Asset Management LLC raised its holdings in Clover Health Investments by 6.2% in the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after purchasing an additional 9,390 shares in the last quarter. Silverleafe Capital Partners LLC lifted its position in shares of Clover Health Investments by 182.9% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company’s stock valued at $142,000 after buying an additional 29,091 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $97,000. Institutional investors own 19.77% of the company’s stock.

Insider Buying and Selling at Clover Health Investments

In related news, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $199,500.00. Following the completion of the transaction, the general counsel now directly owns 1,299,663 shares in the company, valued at $4,938,719.40. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,418,151 shares of the company’s stock, valued at $8,898,795.68. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,500 shares of company stock worth $1,197,500. Corporate insiders own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a research note on Monday, March 3rd.

Clover Health Investments Stock Down 2.4 %

Shares of Clover Health Investments stock opened at $3.60 on Monday. The firm has a market cap of $1.84 billion, a PE ratio of -18.00 and a beta of 1.98. The business has a 50-day moving average price of $3.81 and a 200 day moving average price of $3.76. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.87.

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.