Why Is Clover Health (CLOV) Stock Up Today? Director Chelsea Clinton bought 100,000 shares of CLOV stock 

Right now, shareholders of Clover Wellness (NASDAQ: CLOV) are grinning ear to ear. Although CLOV stock stays down more than 25% year-to-date (YTD), shares of the company are up over 20% today.

Why exactly is Clover Health and wellness trading higher right now?

Over the weekend break, it was reported that Clover director Chelsea Clinton had lately bought shares of CLOV stock. The purchase, which occurred on March 3, saw Clinton buy 100,000 shares for an ordinary cost of $2.52 per share. In overall, Clinton’s recent transaction totaled up to $252,530, according to a Form 4 submitted to the U.S. Stocks as well as Exchange Commission (SEC).

Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in response to Clinton’s acquisition, which investors are deeming a favorable signal. Most of the times, director trading task like this is essential to track due to the fact that experts often have a better view of a business’s long-term growth possibility than retail investors.

So, with that said in mind, are other insiders of Clover bullish on the business? In the past twelve month, insiders have actually acquired 2.2 million shares and sold 22.9 million shares. That’s an internet of 20.6 million shares offered. This mass insider marketing seems to correlate with CLOV stock’s decline of more than 60% over the past one year.

Still, with Clinton’s current purchase, financiers are wondering that else is betting large on Clover Health and wellness. Allow’s leap right in.

Who Else Is Betting Big on Clover Health And Wellness?
As of the fourth quarter, 160 institutional investors very own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) increase of 8.8%. Throughout the period, the total quantity of shares held by institutional investors additionally enhanced from 105.7 million to 129.8 million, up nearly 23% QOQ. Allow’s have a look at the top 5 institutional shareholders.

Lead has 25.9 million shares or 7.65% possession. The firm purchased 8.8 million shares throughout Q4.
Greenoaks Capital Allies owns 24.8 million shares or 7.34% ownership. The firm sold 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm bought 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The company purchased all 6.6 million shares during Q4.
PNC Financial Services (NYSE: PNC) possesses 6.4 million shares or 1.88% ownership. The company offered 249,850 shares throughout Q4.
Out of the top 5 shareholders, 3 funds lowered their settings and 2 funds boosted their placements. Greenoaks Capital Allies had one of the most noteworthy deal, as the fund sold concerning 50% of its existing position throughout Q4. 2 Sigma’s 6.6 million share acquisition was additionally significant, as the purchase placed it amongst the top five investors.