Charles Schwab Investment Management Inc. Sells 249,448 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Charles Schwab Investment Management Inc. lessened its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,751,057 shares of the company’s stock after selling 249,448 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.55% of Clover Health Investments worth $8,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in Clover Health Investments during the 4th quarter valued at $135,000. Palacios Wealth Management LLC acquired a new stake in shares of Clover Health Investments in the 4th quarter worth $131,000. Ballentine Partners LLC acquired a new stake in shares of Clover Health Investments in the 4th quarter worth $131,000. SignalPoint Asset Management LLC boosted its position in shares of Clover Health Investments by 6.2% in the 4th 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. Finally, Steph & Co. boosted its position 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 worth $63,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Canaccord Genuity Group raised 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. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company.

Insider Buying and Selling

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 273,227 shares in the company, valued at $986,349.47. This trade represents a 42.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now owns 2,418,151 shares of the company’s stock, valued at $8,898,795.68. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock worth $1,197,500 in the last 90 days. Insiders own 22.28% of the company’s stock.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $3.72 on Friday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -18.60 and a beta of 2.00. The business has a fifty day moving average of $4.13 and a 200 day moving average of $3.66. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.87.

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.