Canaccord Genuity Group Cuts Clover Health Investments (NASDAQ:CLOV) Price Target to $4.10

Clover Health Investments (NASDAQ:CLOV) had its price objective reduced by Canaccord Genuity Group from $4.50 to $4.10 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, 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.

Clover Health Investments Stock Performance

CLOV opened at $2.18 on Thursday. The business’s 50-day simple moving average is $2.90 and its 200-day simple moving average is $3.48. Clover Health Investments has a one year low of $1.84 and a one year high of $4.87. The stock has a market capitalization of $1.11 billion, a P/E ratio of -27.25 and a beta of 1.91.

Insider Transactions at Clover Health Investments

In related news, CEO Conrad Wai sold 118,600 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total value of $390,194.00. Following the transaction, the chief executive officer owned 1,494,898 shares in the company, valued at $4,918,214.42. The trade was a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 24.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently added to or reduced their stakes in CLOV. Geode Capital Management LLC boosted its holdings in Clover Health Investments by 95.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock valued at $27,467,000 after purchasing an additional 4,812,368 shares in the last quarter. Millennium Management LLC boosted its holdings in Clover Health Investments by 365.9% in the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company’s stock valued at $20,836,000 after purchasing an additional 4,558,305 shares in the last quarter. Marshall Wace LLP boosted its holdings in Clover Health Investments by 167.6% in the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after purchasing an additional 2,360,902 shares in the last quarter. GMT Capital Corp purchased a new stake in Clover Health Investments in the 1st quarter valued at approximately $4,686,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

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.