Chamath Palihapitiya Stocks: 5 Stocks Picked in the Last 10 Years

4. Clover Health Investments, Corp. (NASDAQ:CLOV)

Number of Hedge Fund Holders: 17     

Clover Health Investments, Corp. (NASDAQ: CLOV) operates as a medicare advantage insurer in the United States. In October 2020, Chamath Palihapitiya announced that he would be taking Clover public through his SPAC in a deal valuing the firm at over $3.7 billion. Palihapitiya became the largest shareholder in the company after the IPO, buying around 60 million shares, representing a 12% stake in the firm. Clover stock has slumped since the public offering and as of December 26, has a market capitalization of $447 million. Palihapitiya is also under regulatory scrutiny over the IPO. 

On November 16, Citi analyst Jason Cassorla maintained a Neutral rating on Clover Health Investments, Corp. (NASDAQ:CLOV) stock and lowered the price target to $1.80 from $3.50, noting that models were updated based on third-quarter results.

At the end of the third quarter of 2022, 17 hedge funds in the database of Insider Monkey held stakes worth $19.7 million in Clover Health Investments, Corp. (CLOV), compared to 11 in the preceding quarter worth $20 million.