BNP Paribas Financial Markets Acquires Shares of 291,736 Clover Health Investments, Corp. (NASDAQ:CLOV)

BNP Paribas Financial Markets purchased a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 291,736 shares of the company's stock, valued at approximately $919,000. BNP Paribas Financial Markets owned 0.06% of Clover Health Investments as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Phoenix Financial Ltd. boosted its holdings in Clover Health Investments by 6.8% in the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock valued at $123,000 after acquiring an additional 2,500 shares during the last quarter. Parallax Volatility Advisers L.P. grew its holdings in Clover Health Investments by 47.7% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock worth $63,000 after acquiring an additional 6,408 shares during the period. Arizona State Retirement System grew its holdings in Clover Health Investments by 6.3% during the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock worth $373,000 after acquiring an additional 6,990 shares during the period. Triumph Capital Management acquired a new stake in Clover Health Investments during the 4th quarter worth $45,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Clover Health Investments during the 4th quarter worth $73,000. Institutional investors own 19.77% of the company's stock.

Insider Buying and Selling at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 75,000 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the sale, the director now owns 273,227 shares of the company's stock, valued at $986,349.47. This trade represents a 42.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,500 shares of company stock worth $1,197,500. Corporate insiders own 22.28% of the company's stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a report on Monday, March 3rd.

Clover Health Investments Trading Up 0.6%

Shares of CLOV stock traded up $0.02 on Tuesday, hitting $3.21. The stock had a trading volume of 6,363,266 shares, compared to its average volume of 6,682,555. Clover Health Investments, Corp. has a twelve month low of $0.90 and a twelve month high of $4.87. The firm has a market cap of $1.63 billion, a P/E ratio of -16.05 and a beta of 1.99. The company has a fifty day moving average price of $3.51 and a two-hundred day moving average price of $3.66.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $462.33 million for the quarter, compared to the consensus estimate of $466.93 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. On average, analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

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.