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

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

Why specifically is Clover Health and wellness trading greater right now?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had lately bought shares of CLOV stock. The transaction, which happened on March 3, saw Clinton purchase 100,000 shares for an ordinary cost of $2.52 per share. In total, Clinton’s recent purchase totaled up to $252,530, according to a Type 4 submitted to the united state Securities as well as Exchange Commission (SEC).

Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in feedback to Clinton’s acquisition, which investors are viewing as a positive signal. Oftentimes, director trading activity like this is very important to track because experts commonly have a far better view of a business’s lasting development potential than retail financiers.

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

Still, with Clinton’s current acquisition, capitalists are wondering who else is betting huge on Clover Health. Let’s jump right in.

That Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional financiers own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) increase of 8.8%. Throughout the period, the overall quantity of shares held by institutional financiers also boosted from 105.7 million to 129.8 million, up virtually 23% QOQ. Let’s take a look on top five institutional investors.

Vanguard has 25.9 million shares or 7.65% ownership. The firm acquired 8.8 million shares throughout Q4.
Greenoaks Capital Partners has 24.8 million shares or 7.34% possession. The company sold 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.
2 Sigma Investments has 6.6 million shares or 1.95% ownership. The firm purchased all 6.6 million shares during Q4.
PNC Financial Solutions (NYSE: PNC) possesses 6.4 million shares or 1.88% possession. The firm sold 249,850 shares throughout Q4.
Out of the leading five shareholders, three funds minimized their placements and also two funds enhanced their placements. Greenoaks Resources Partners had the most notable transaction, as the fund offered about 50% of its existing placement throughout Q4. Two Sigma’s 6.6 million share purchase was likewise notable, as the acquisition placed it amongst the top five investors.

Comments are closed.