ExodusPoint Capital Management LP Makes New $646,000 Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

ExodusPoint Capital Management LP acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 204,952 shares of the company’s stock, valued at approximately $646,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLOV. Steph & Co. raised its position in 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 purchasing an additional 5,000 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Clover Health Investments during the third quarter worth approximately $97,000. Wilmington Savings Fund Society FSB acquired a new stake in Clover Health Investments in the third quarter valued at approximately $105,000. Ballentine Partners LLC purchased a new position in Clover Health Investments in the fourth quarter worth approximately $131,000. Finally, Palacios Wealth Management LLC acquired a new position in Clover Health Investments during the 4th quarter worth approximately $131,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CLOV shares. Canaccord Genuity Group lifted their price objective on shares of 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 report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company.

Insider Activity at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the sale, the chief executive officer now owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Karen Soares sold 52,500 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the sale, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at approximately $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 sold a total of 327,500 shares of company stock valued at $1,197,500 over the last ninety days. Insiders own 22.28% of the company’s stock.

Clover Health Investments Trading Up 0.3 %

Shares of NASDAQ:CLOV opened at $3.68 on Friday. The firm has a 50 day simple moving average of $3.89 and a 200-day simple moving average of $3.74. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.87. The company has a market capitalization of $1.88 billion, a PE ratio of -18.40 and a beta of 1.98.

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.