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

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

Why exactly is Clover Health trading greater now?

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

Why Is CLOV Stock Up Today?
Now, CLOV stock is up in action to Clinton’s purchase, which investors are considering as a favorable signal. Often times, supervisor trading activity like this is important to track due to the fact that experts often have a better sight of a firm’s long-lasting growth possibility than retail investors.

So, with that said in mind, are various other experts of Clover bullish on the firm? In the past year, insiders have purchased 2.2 million shares as well as sold 22.9 million shares. That’s an internet of 20.6 million shares marketed. This mass expert selling seems to correlate with CLOV stock’s decrease of greater than 60% over the past one year.

Still, with Clinton’s recent acquisition, investors are wondering who else is wagering big on Clover Health. Let’s jump right in.

That Else Is Betting Big on Clover Health?
As of the fourth quarter, 160 institutional financiers 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 capitalists likewise raised from 105.7 million to 129.8 million, up nearly 23% QOQ. Let’s have a look on top five institutional investors.

Lead has 25.9 million shares or 7.65% possession. The firm acquired 8.8 million shares during Q4.
Greenoaks Capital Partners possesses 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% possession. The firm acquired 2.6 million shares during Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The company bought all 6.6 million shares during Q4.
PNC Financial Solutions (NYSE: PNC) has 6.4 million shares or 1.88% possession. The firm offered 249,850 shares during Q4.
Out of the leading 5 shareholders, three funds decreased their positions and also two funds boosted their settings. Greenoaks Funding Allies had the most noteworthy transaction, as the fund sold regarding 50% of its existing position during Q4. Two Sigma’s 6.6 million share acquisition was also notable, as the acquisition placed it among the leading 5 investors.