Yahoo Finance Insider Buying: Director and 10% Owner Vivek Garipalli Acquires Shares of Clover Health ...
On June 17, 2024, Vivek Garipalli, Director and 10% Owner of Clover Health Investments Corp (NASDAQ:CLOV), purchased 877,567 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 877,567 shares of Clover Health Investments Corp.
Clover Health Investments Corp is a healthcare technology company focused on improving health outcomes and reducing costs for patients through its Medicare Advantage plans. The company leverages its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients.
Over the past year, the insider transaction history for Clover Health Investments Corp shows a trend of more insider buying than selling. There have been 4 insider buys and 0 insider sells. The insider, Vivek Garipalli, has been particularly active, purchasing a total of 877,567 shares over the period and selling none.
On the valuation front, shares of Clover Health Investments Corp were trading at $1.14 on the day of the insider's recent purchase. The company has a market cap of approximately $516.295 million. According to the GF Value, the intrinsic value estimate for the stock is $0.85, which suggests that the stock is modestly overvalued with a price-to-GF-Value ratio of 1.34.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the companys past returns and growth, and future business performance estimates from Morningstar analysts.
This recent insider purchase could signal a strong belief in the future prospects of the company, despite the current valuation metrics suggesting a modest overvaluation relative to its intrinsic value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
