mouu007/iStock via Getty Images Health insurer Clover Health Investments ( NASDAQ: CLOV ) continued to trade higher in the premarket Friday after its former CEO and co-founder Vivek Garipalli disclosed the purchase of more than $1M worth of company shares. Clover ( CLOV ) shares started the ascent in postmarket trading on Thursday after Garipalli, who founded the Medicare Advantage startup with its former tech chief Kris Gale, disclosed the purchase in an SEC filing later that day. As part of the transaction, Garipalli has acquired about 877.
6K shares of CLOV on Monday for an average price of $1.14, building an ownership stake in the company. In 2023, Garipalli handed his leadership role at Franklin, Tenn.
-based Clover ( CLOV ) to current CEO Andrew Toy but continued to serve the company as an executive chairperson. More on Clover Health Clover Health: New Business Model Is A Game Changer Clover Health Investments, Corp. (CLOV) Q1 2024 Earnings Call Transcript Clover Health Investments, Corp.
2024 Q1 - Results - Earnings Call Presentation Clover Health gains on recalculated Medicare Star Ratings Clover Health offering clinical decision tool to all MA payors and providers.