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

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

Why specifically is Clover Wellness trading higher now?

Over the weekend break, it was reported that Clover director Chelsea Clinton had actually lately acquired shares of CLOV stock. The purchase, which happened on March 3, saw Clinton purchase 100,000 shares for an ordinary price of $2.52 per share. In total, Clinton’s current transaction totaled up to $252,530, according to a Form 4 submitted to the U.S. Securities and also 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 favorable signal. Most of the times, supervisor trading activity such as this is important to track since experts typically have a far better view of a firm’s long-lasting development possibility than retail financiers.

So, with that said in mind, are other insiders of Clover favorable on the company? In the past one year, insiders have acquired 2.2 million shares and also sold 22.9 million shares. That’s a net of 20.6 million shares offered. This mass insider marketing seems to associate with CLOV stock’s decrease of more than 60% over the past one year.

Still, with Clinton’s current acquisition, financiers are questioning who else is betting big on Clover Wellness. Allow’s jump right in.

That Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional investors very own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) rise of 8.8%. Throughout the duration, the overall quantity of shares held by institutional investors also raised from 105.7 million to 129.8 million, up nearly 23% QOQ. Allow’s have a look on top five institutional shareholders.

Lead has 25.9 million shares or 7.65% possession. The company acquired 8.8 million shares throughout Q4.
Greenoaks Resources Allies owns 24.8 million shares or 7.34% possession. The company marketed 24.8 million shares throughout Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm bought 2.6 million shares during Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The company acquired all 6.6 million shares during Q4.
PNC Financial Solutions (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The company offered 249,850 shares during Q4.
Out of the leading 5 shareholders, three funds minimized their positions as well as two funds increased their positions. Greenoaks Capital Partners had one of the most significant transaction, as the fund offered concerning 50% of its existing position during Q4. 2 Sigma’s 6.6 million share acquisition was additionally significant, as the acquisition placed it amongst the leading 5 shareholders.

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