Clover Health Investments, Corp. (NASDAQ:CLOV) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 172.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 432,268 shares of the company’s stock after acquiring an additional 273,348 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of Clover Health Investments worth $1,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CLOV. Steph & Co. increased its position in shares of Clover Health Investments by 33.3% during the fourth 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. Wilmington Savings Fund Society FSB acquired a new stake in Clover Health Investments during the 3rd quarter worth $105,000. Palacios Wealth Management LLC purchased a new stake in shares of Clover Health Investments during the fourth quarter worth $131,000. Ballentine Partners LLC acquired a new stake in shares of Clover Health Investments in the fourth quarter valued at about $131,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Clover Health Investments in the fourth quarter worth about $135,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Insiders Place Their Bets

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the transaction, the director now directly owns 273,227 shares of the company’s stock, valued at $986,349.47. The trade was a 42.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock valued at $1,197,500 in the last three months. 22.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective 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 Performance

Shares of Clover Health Investments stock opened at $3.43 on Friday. The business’s 50 day moving average price is $3.71 and its 200 day moving average price is $3.75. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -17.15 and a beta of 1.98. Clover Health Investments, Corp. has a one year low of $0.63 and a one 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.