Swiss National Bank Acquires 47,700 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Swiss National Bank increased its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 802,100 shares of the company’s stock after purchasing an additional 47,700 shares during the period. Swiss National Bank owned approximately 0.16% of Clover Health Investments worth $2,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CLOV. Graypoint LLC bought a new stake in shares of Clover Health Investments during the 4th quarter worth $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Clover Health Investments during the third quarter worth about $1,228,000. JPMorgan Chase & Co. purchased a new position in shares of Clover Health Investments in the 3rd quarter worth about $448,000. State Street Corp increased its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after purchasing an additional 862,621 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Clover Health Investments during the 3rd quarter valued at about $477,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the 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 approximately $986,349.47. This trade represents a 42.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Clover Health Investments Price Performance

CLOV opened at $3.70 on Friday. The stock’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $3.68. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -18.50 and a beta of 2.00. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.87.

Clover Health Investments Company 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.