Wealthfront Advisers LLC Buys New Shares in Clover Health Investments, Corp. $CLOV

Wealthfront Advisers LLC acquired a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,120 shares of the company’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Clover Health Investments during the second quarter worth about $73,000. Allianz Asset Management GmbH bought a new stake in Clover Health Investments in the 2nd quarter valued at $858,000. Blair William & Co. IL raised its stake in shares of Clover Health Investments by 94.3% in the 2nd quarter. Blair William & Co. IL now owns 51,500 shares of the company’s stock valued at $144,000 after buying an additional 25,000 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at $105,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Clover Health Investments by 21.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $69,000 after buying an additional 4,426 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Anna U. Loengard acquired 26,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $2.59 per share, for a total transaction of $68,635.00. Following the completion of the acquisition, the director owned 29,610 shares of the company’s stock, valued at $76,689.90. This trade represents a 852.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 24.07% of the company’s stock.

Clover Health Investments Stock Performance

Shares of CLOV stock opened at $3.53 on Monday. Clover Health Investments, Corp. has a 52-week low of $2.12 and a 52-week high of $4.87. The stock has a market cap of $1.81 billion, a PE ratio of -44.13 and a beta of 2.07. The firm’s 50 day moving average price is $2.96 and its two-hundred day moving average price is $3.01.

Analysts Set New Price Targets

CLOV has been the topic of a number of recent research reports. Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the company a “market perform” rating in a report on Tuesday, October 21st. UBS Group lowered their target price on shares of Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Zacks Research upgraded shares of Clover Health Investments from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Canaccord Genuity Group reduced their price target on shares of 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Clover Health Investments currently has an average rating of “Moderate Buy” and an average target price of $4.03.

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.