Why Is Clover Health And Wellness (CLOV) Stock Up Today? Director Chelsea Clinton purchased 100,000 shares of CLOV stockĀ 

Now, shareholders of Clover Health and wellness (NASDAQ: CLOV) are grinning ear to ear. Although clov stock price target continues to be down greater than 25% year-to-date (YTD), shares of the firm are up over 20% today.

Why precisely is Clover Health trading higher right now?

Over the weekend, it was reported that Clover director Chelsea Clinton had actually recently purchased shares of CLOV stock. The transaction, which occurred on March 3, saw Clinton buy 100,000 shares for an average rate of $2.52 per share. In total amount, Clinton’s recent purchase amounted to $252,530, according to a Form 4 submitted to the united state Stocks and also Exchange Payment (SEC).

Why Is CLOV Stock Up Today?
Today, CLOV stock is up in reaction to Clinton’s acquisition, which investors are viewing as a positive signal. Often times, supervisor trading task such as this is very important to track due to the fact that insiders frequently have a far better sight of a company’s long-lasting growth possibility than retail investors.

So, with that in mind, are other experts of Clover favorable on the company? In the past 12 months, insiders have actually purchased 2.2 million shares and marketed 22.9 million shares. That’s a net of 20.6 million shares marketed. This mass expert selling seems to correlate with CLOV stock’s decline of more than 60% over the past one year.

Still, with Clinton’s current purchase, investors are wondering who else is betting large on Clover Health. Let’s leap 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) increase of 8.8%. Throughout the duration, the overall quantity of shares held by institutional capitalists likewise boosted from 105.7 million to 129.8 million, up nearly 23% QOQ. Let’s have a look at the top five institutional investors.

Lead has 25.9 million shares or 7.65% possession. The company bought 8.8 million shares during Q4.
Greenoaks Funding Partners owns 24.8 million shares or 7.34% ownership. The firm marketed 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% ownership. The firm purchased 2.6 million shares during Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The firm bought all 6.6 million shares throughout Q4.
PNC Financial Services (NYSE: PNC) has 6.4 million shares or 1.88% possession. The firm marketed 249,850 shares throughout Q4.
Out of the leading 5 investors, 3 funds lowered their placements and also two funds boosted their positions. Greenoaks Capital Allies had the most remarkable deal, as the fund offered regarding 50% of its existing position during Q4. 2 Sigma’s 6.6 million share purchase was additionally remarkable, as the procurement placed it among the top 5 shareholders.