Cubist Systematic Strategies LLC Sells 211,947 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Cubist Systematic Strategies LLC trimmed its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 70.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,074 shares of the company's stock after selling 211,947 shares during the period. Cubist Systematic Strategies LLC's holdings in Clover Health Investments were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Clover Health Investments by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company's stock valued at $61,693,000 after buying an additional 386,499 shares in the last quarter. Geode Capital Management LLC grew its stake in Clover Health Investments by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company's stock valued at $15,387,000 after buying an additional 53,760 shares in the last quarter. Marshall Wace LLP grew its stake 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 buying an additional 2,360,902 shares in the last quarter. Northern Trust Corp grew its stake in Clover Health Investments by 16.0% in the 4th quarter. Northern Trust Corp now owns 1,085,626 shares of the company's stock valued at $3,420,000 after buying an additional 149,714 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Clover Health Investments in the 4th quarter valued at approximately $2,769,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the completion of the transaction, the director now directly owns 273,227 shares in the company, valued at approximately $986,349.47. The trade was a 42.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brady Patrick Priest sold 75,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. This trade represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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 boosted their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd.

Clover Health Investments Trading Down 2.7%

Shares of CLOV traded down $0.09 during mid-day trading on Friday, reaching $3.19. 7,535,215 shares of the stock traded hands, compared to its average volume of 6,680,084. The firm has a fifty day moving average price of $3.53 and a 200 day moving average price of $3.67. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -15.95 and a beta of 1.99. Clover Health Investments, Corp. has a 1 year low of $0.90 and a 1 year high of $4.87.

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

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.