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

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

Why precisely is Clover Health and wellness trading higher now?

Over the weekend break, it was reported that Clover director Chelsea Clinton had actually just recently bought shares of CLOV stock. The purchase, which took place on March 3, saw Clinton purchase 100,000 shares for an ordinary rate of $2.52 per share. In total amount, Clinton’s current transaction totaled up to $252,530, according to a Type 4 submitted to the U.S. Stocks as well as Exchange Compensation (SEC).

Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in reaction to Clinton’s acquisition, which financiers are viewing as a favorable signal. Oftentimes, director trading task such as this is very important to track because insiders commonly have a far better sight of a firm’s long-term growth potential than retail financiers.

So, keeping that in mind, are other insiders of Clover bullish on the firm? In the past twelve month, experts have acquired 2.2 million shares and also marketed 22.9 million shares. That’s a web of 20.6 million shares sold. This mass expert selling appears to associate with CLOV stock’s decrease of more than 60% over the past one year.

Still, with Clinton’s current purchase, investors are questioning who else is wagering big on Clover Wellness. Let’s leap right in.

Who Else Is Betting Big on Clover Health And Wellness?
Since the 4th quarter, 160 institutional investors very own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) boost of 8.8%. During the duration, the overall quantity of shares held by institutional financiers additionally increased from 105.7 million to 129.8 million, up virtually 23% QOQ. Let’s take a look on top five institutional shareholders.

Lead has 25.9 million shares or 7.65% ownership. The company bought 8.8 million shares during Q4.
Greenoaks Capital Allies owns 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% ownership. The company bought 2.6 million shares during Q4.
2 Sigma Investments has 6.6 million shares or 1.95% ownership. The company acquired all 6.6 million shares during Q4.
PNC Financial Provider (NYSE: PNC) has 6.4 million shares or 1.88% possession. The firm marketed 249,850 shares throughout Q4.
Out of the leading 5 investors, three funds minimized their placements as well as two funds increased their placements. Greenoaks Funding Allies had the most significant deal, as the fund sold regarding 50% of its existing placement during Q4. Two Sigma’s 6.6 million share purchase was also noteworthy, as the purchase placed it amongst the top five shareholders.