Geode Capital Management LLC Buys 4,812,368 Shares of Clover Health Investments, Corp. $CLOV

Geode Capital Management LLC increased its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 95.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,843,349 shares of the company’s stock after purchasing an additional 4,812,368 shares during the quarter. Geode Capital Management LLC owned approximately 1.93% of Clover Health Investments worth $27,467,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in Clover Health Investments during the first quarter valued at $499,000. Blair William & Co. IL purchased a new stake in Clover Health Investments in the 1st quarter worth about $95,000. Thoroughbred Financial Services LLC increased its holdings in Clover Health Investments by 275.8% in the 1st quarter. Thoroughbred Financial Services LLC now owns 100,840 shares of the company’s stock worth $362,000 after acquiring an additional 74,005 shares during the last quarter. Vanguard Group Inc. raised its stake in Clover Health Investments by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock valued at $73,883,000 after acquiring an additional 994,904 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Clover Health Investments by 149.4% during the first quarter. Deutsche Bank AG now owns 16,307 shares of the company’s stock valued at $59,000 after purchasing an additional 9,768 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Up 1.6%

Shares of NASDAQ:CLOV opened at $2.49 on Friday. The company has a 50 day moving average of $2.86 and a 200 day moving average of $2.90. The stock has a market cap of $1.29 billion, a P/E ratio of -22.64 and a beta of 2.07. Clover Health Investments, Corp. has a 12 month low of $2.12 and a 12 month high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.07). The firm had revenue of $496.65 million during the quarter, compared to the consensus estimate of $467.18 million. Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. On average, equities analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLOV has been the subject of several recent research reports. Wall Street Zen downgraded shares of Clover Health Investments from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Canaccord Genuity Group cut their price objective on shares of Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a report on Thursday, November 6th. 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 downgraded Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Leerink Partners set a $3.00 price target on Clover Health Investments and gave the stock a “market perform” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.93.

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.