Posted on April 3, 2022
Why Is Clover Health (CLOV) Stock Up Today? Supervisor Chelsea Clinton purchased 100,000 shares of CLOV stock
Right now, investors of Clover Health and wellness (NASDAQ: CLOV) are grinning ear to ear. Although clov stock price today 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 and wellness trading greater right now?
Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had actually lately purchased shares of CLOV stock. The transaction, which took place on March 3, saw Clinton purchase 100,000 shares for an ordinary cost of $2.52 per share. In total, Clinton’s recent transaction amounted to $252,530, according to a Kind 4 submitted to the U.S. Stocks as well as Exchange Payment (SEC).
Why Is CLOV Stock Up Today?
Now, CLOV stock is up in response to Clinton’s acquisition, which financiers are deeming a favorable signal. Most of the times, director trading activity such as this is very important to track because insiders usually have a much better sight of a business’s lasting growth possibility than retail investors.
So, with that said in mind, are other insiders of Clover favorable on the business? In the past 12 months, insiders have actually purchased 2.2 million shares and also marketed 22.9 million shares. That’s a net of 20.6 million shares sold. This mass insider selling appears to associate 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 wagering large on Clover Health. Let’s leap right in.
That Else Is Betting Big on Clover Health And Wellness?
As of the fourth quarter, 160 institutional investors own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) rise of 8.8%. During the period, the overall amount of shares held by institutional capitalists likewise increased from 105.7 million to 129.8 million, up nearly 23% QOQ. Allow’s take a look on top five institutional shareholders.
Vanguard has 25.9 million shares or 7.65% ownership. The company acquired 8.8 million shares during Q4.
Greenoaks Resources Partners possesses 24.8 million shares or 7.34% ownership. The firm sold 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% ownership. The firm bought 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% ownership. The firm acquired all 6.6 million shares throughout Q4.
PNC Financial Services (NYSE: PNC) possesses 6.4 million shares or 1.88% possession. The firm offered 249,850 shares during Q4.
Out of the leading five investors, three funds minimized their settings and two funds increased their placements. Greenoaks Capital Partners had one of the most significant purchase, as the fund sold regarding 50% of its existing placement throughout Q4. Two Sigma’s 6.6 million share purchase was also remarkable, as the acquisition placed it among the leading 5 investors.