Posted on April 7, 2022
Why Is Clover Health And Wellness (CLOV) Stock Up Today? Director Chelsea Clinton acquired 100,000 shares of CLOV stock
Now, shareholders of Clover Health (NASDAQ: CLOV) are smiling ear to ear. Although CLOV stock stays down more than 25% year-to-date (YTD), shares of the company are up over 20% today.
Why specifically is Clover Wellness trading higher right now?
Over the weekend, it was reported that Clover director Chelsea Clinton had actually just recently acquired shares of CLOV stock. The purchase, which occurred on March 3, saw Clinton buy 100,000 shares for an average price of $2.52 per share. In overall, Clinton’s current deal amounted to $252,530, according to a Type 4 submitted to the U.S. Stocks and Exchange Commission (SEC).
Why Is CLOV Stock Up Today?
Now, CLOV stock is up in reaction to Clinton’s purchase, which capitalists are deeming a favorable signal. Oftentimes, supervisor trading activity like this is very important to track because insiders frequently have a better view of a firm’s long-term growth potential than retail financiers.
So, with that in mind, are other experts of Clover favorable on the firm? In the past year, experts have acquired 2.2 million shares and marketed 22.9 million shares. That’s a web of 20.6 million shares marketed. This mass insider marketing seems to associate with CLOV stock’s decline of greater than 60% over the past one year.
Still, with Clinton’s recent acquisition, investors are questioning who else is betting big on Clover Health and wellness. Allow’s jump right in.
Who Else Is Betting Big on Clover Health?
Since the 4th quarter, 160 institutional investors very own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) increase of 8.8%. Throughout the period, the complete quantity of shares held by institutional financiers likewise boosted from 105.7 million to 129.8 million, up virtually 23% QOQ. Let’s take a look on top five institutional shareholders.
Vanguard has 25.9 million shares or 7.65% possession. The company purchased 8.8 million shares during Q4.
Greenoaks Funding Partners owns 24.8 million shares or 7.34% possession. The firm sold 24.8 million shares throughout Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm acquired 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% possession. The firm acquired all 6.6 million shares throughout Q4.
PNC Financial Solutions (NYSE: PNC) has 6.4 million shares or 1.88% possession. The firm offered 249,850 shares throughout Q4.
Out of the top five investors, 3 funds decreased their placements and two funds raised their positions. Greenoaks Capital Allies had one of the most noteworthy deal, as the fund marketed regarding 50% of its existing position during Q4. Two Sigma’s 6.6 million share purchase was also noteworthy, as the purchase placed it amongst the leading five shareholders.