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

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

Why exactly is Clover Health trading higher now?

Over the weekend break, it was reported that Clover director Chelsea Clinton had actually just recently acquired shares of CLOV stock. The transaction, which took place on March 3, saw Clinton buy 100,000 shares for an average rate of $2.52 per share. In overall, Clinton’s recent deal amounted to $252,530, according to a Type 4 submitted to the united state Stocks as well as Exchange Payment (SEC).

Why Is CLOV Stock Up Today?
Today, CLOV stock is up in response to Clinton’s acquisition, which investors are considering as a positive signal. Most of the times, supervisor trading activity such as this is essential to track because experts typically have a much better view of a business’s long-lasting development possibility than retail financiers.

So, keeping that in mind, are other experts of Clover favorable on the firm? In the past year, insiders have actually purchased 2.2 million shares as well as offered 22.9 million shares. That’s a net of 20.6 million shares marketed. This mass insider selling seems to correlate with CLOV stock’s decrease of more than 60% over the past one year.

Still, with Clinton’s current purchase, financiers are wondering who else is wagering big on Clover Wellness. Allow’s jump right in.

Who Else Is Betting Big on Clover Health?
As of the fourth quarter, 160 institutional investors own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) increase of 8.8%. During the duration, the complete amount of shares held by institutional investors additionally boosted from 105.7 million to 129.8 million, up almost 23% QOQ. Let’s take a look on top five institutional investors.

Lead has 25.9 million shares or 7.65% possession. The firm acquired 8.8 million shares throughout Q4.
Greenoaks Resources Allies has 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% ownership. The firm purchased 2.6 million shares during Q4.
2 Sigma Investments has 6.6 million shares or 1.95% ownership. The firm acquired all 6.6 million shares during Q4.
PNC Financial Services (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The firm offered 249,850 shares during Q4.
Out of the top five investors, 3 funds decreased their placements and also 2 funds increased their positions. Greenoaks Funding Partners had one of the most significant transaction, as the fund sold concerning 50% of its existing placement during Q4. Two Sigma’s 6.6 million share purchase was also remarkable, as the acquisition put it among the leading five shareholders.