Clover Health Investments, Corp. $CLOV Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 35.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 220,025 shares of the company’s stock after purchasing an additional 57,979 shares during the period. Farther Finance Advisors LLC’s holdings in Clover Health Investments were worth $614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLOV. Millennium Management LLC lifted its position in Clover Health Investments by 365.9% during the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company’s stock worth $20,836,000 after acquiring an additional 4,558,305 shares in the last quarter. GMT Capital Corp acquired a new position in Clover Health Investments during the 1st quarter worth approximately $4,686,000. Vanguard Group Inc. lifted its position in Clover Health Investments by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock worth $73,883,000 after acquiring an additional 994,904 shares in the last quarter. 8 Knots Management LLC acquired a new position in Clover Health Investments during the 1st quarter worth approximately $2,936,000. Finally, Caxton Associates LLP acquired a new position in Clover Health Investments during the 1st quarter worth approximately $1,599,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Trading Up 1.3%

CLOV stock opened at $3.20 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of -40.00 and a beta of 1.96. Clover Health Investments, Corp. has a 12-month low of $2.12 and a 12-month high of $4.87. The stock’s 50 day simple moving average is $2.83 and its 200 day simple moving average is $3.13.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group cut their target price on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Canaccord Genuity Group cut their target price on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.37.

Insider Activity at Clover Health Investments

In related news, CEO Conrad Wai sold 91,197 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total transaction of $302,774.04. Following the sale, the chief executive officer directly owned 1,403,701 shares of the company’s stock, valued at approximately $4,660,287.32. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anna U. Loengard purchased 26,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $68,635.00. Following the completion of the transaction, the director owned 29,610 shares in the company, valued at approximately $76,689.90. This represents a 852.09% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 24.07% of the company’s stock.

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.