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

Now, shareholders of Clover Wellness (NASDAQ: CLOV) are smiling ear to ear. Although clov stock chart remains down more than 25% year-to-date (YTD), shares of the company are up over 20% today.

Why specifically is Clover Wellness trading greater today?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had recently purchased shares of CLOV stock. The purchase, which happened on March 3, saw Clinton buy 100,000 shares for an average cost of $2.52 per share. In overall, Clinton’s current deal totaled up to $252,530, according to a Type 4 submitted to the U.S. Securities and Exchange Compensation (SEC).

Why Is CLOV Stock Up Today?
Now, CLOV stock is up in action to Clinton’s purchase, which financiers are viewing as a positive signal. Most of the times, supervisor trading activity like this is very important to track due to the fact that experts typically have a far better view of a business’s long-term development possibility than retail financiers.

So, keeping that in mind, are other insiders of Clover bullish on the firm? In the past 12 months, insiders have actually bought 2.2 million shares and also offered 22.9 million shares. That’s an internet of 20.6 million shares sold. This mass insider marketing seems to correlate with CLOV stock’s decrease of greater than 60% over the past one year.

Still, with Clinton’s recent acquisition, financiers are questioning that else is wagering big on Clover Health. Allow’s jump right in.

Who Else Is Betting Big on Clover Wellness?
As of the 4th quarter, 160 institutional financiers very own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) rise of 8.8%. Throughout the duration, the complete quantity of shares held by institutional capitalists likewise increased from 105.7 million to 129.8 million, up virtually 23% QOQ. Allow’s take a look on top 5 institutional shareholders.

Lead has 25.9 million shares or 7.65% ownership. The firm acquired 8.8 million shares during Q4.
Greenoaks Capital Allies possesses 24.8 million shares or 7.34% possession. The firm marketed 24.8 million shares throughout Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The company purchased 2.6 million shares during Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The firm purchased all 6.6 million shares during Q4.
PNC Financial Provider (NYSE: PNC) possesses 6.4 million shares or 1.88% ownership. The company sold 249,850 shares during Q4.
Out of the leading five investors, 3 funds minimized their settings and also two funds increased their settings. Greenoaks Capital Partners had one of the most significant purchase, as the fund marketed about 50% of its existing position throughout Q4. 2 Sigma’s 6.6 million share purchase was also notable, as the purchase put it amongst the top five investors.