Home » Markets » Why Is Clover Wellness (CLOV) Stock Up Today? Director Chelsea Clinton bought 100,000 shares of CLOV stock 

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

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

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

Over the weekend break, it was reported that Clover director Chelsea Clinton had just recently purchased shares of CLOV stock. The transaction, which occurred on March 3, saw Clinton buy 100,000 shares for an average cost of $2.52 per share. In total amount, Clinton’s current transaction amounted to $252,530, according to a Kind 4 submitted to the U.S. Securities and Exchange Compensation (SEC).

Why Is CLOV Stock Up Today?
Today, CLOV stock is up in reaction to Clinton’s purchase, which capitalists are deeming a positive signal. Often times, supervisor trading task like this is very important to track since experts often have a far better sight of a firm’s long-lasting development possibility than retail investors.

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

Still, with Clinton’s current purchase, investors are questioning who else is betting huge on Clover Health. Allow’s jump right in.

Who Else Is Betting Big on Clover Health And Wellness?
As of the 4th quarter, 160 institutional investors own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) boost of 8.8%. During the period, the total quantity of shares held by institutional capitalists additionally raised from 105.7 million to 129.8 million, up almost 23% QOQ. Let’s take a look on top 5 institutional shareholders.

Lead has 25.9 million shares or 7.65% ownership. The company acquired 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 throughout Q4.
Baillie Gifford has 7.8 million shares or 2.3% ownership. The firm acquired 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The company acquired all 6.6 million shares throughout Q4.
PNC Financial Services (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The firm marketed 249,850 shares during Q4.
Out of the leading 5 shareholders, 3 funds lowered their settings as well as two funds increased their settings. Greenoaks Capital Allies had the most significant purchase, as the fund sold about 50% of its existing setting during Q4. Two Sigma’s 6.6 million share purchase was also notable, as the acquisition put it amongst the leading 5 shareholders.