Deutsche Bank AG Grows Position in Clover Health Investments, Corp. $CLOV

Deutsche Bank AG increased its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 149.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,307 shares of the company’s stock after buying an additional 9,768 shares during the quarter. Deutsche Bank AG’s holdings in Clover Health Investments were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in Clover Health Investments by 80.5% during the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company’s stock valued at $25,000 after purchasing an additional 3,160 shares during the period. Perigon Wealth Management LLC purchased a new stake in Clover Health Investments in the 1st quarter worth approximately $36,000. Wedbush Securities Inc. grew its position in shares of Clover Health Investments by 110.0% in the 1st quarter. Wedbush Securities Inc. now owns 21,000 shares of the company’s stock worth $75,000 after buying an additional 11,000 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Clover Health Investments by 4.2% during the fourth quarter. California State Teachers Retirement System now owns 351,446 shares of the company’s stock valued at $1,107,000 after buying an additional 14,068 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $45,000. 19.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Anna U. Loengard purchased 26,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $2.59 per share, for a total transaction of $68,635.00. Following the purchase, the director directly owned 29,610 shares of the company’s stock, valued at approximately $76,689.90. This represents a 852.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Conrad Wai sold 118,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $3.29, for a total value of $390,194.00. Following the transaction, the chief executive officer directly owned 1,494,898 shares of the company’s stock, valued at approximately $4,918,214.42. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. 24.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLOV. Canaccord Genuity Group dropped their price target on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating for the company in a research note on Thursday, August 7th. UBS Group dropped their target price on shares of Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Two 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.37.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $2.62 on Tuesday. Clover Health Investments, Corp. has a 1 year low of $2.12 and a 1 year high of $4.87. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -32.75 and a beta of 1.96. The company has a 50-day moving average of $2.78 and a 200 day moving average of $3.26.

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.