Today, shareholders of Clover Health and wellness (NASDAQ: CLOV) are grinning ear to ear. Although CLOV stock stays 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 today?
Over the weekend, it was reported that Clover supervisor Chelsea Clinton had actually lately purchased shares of CLOV stock. The purchase, which happened on March 3, saw Clinton buy 100,000 shares for an ordinary price of $2.52 per share. In total amount, Clinton’s recent transaction totaled up to $252,530, according to a Type 4 submitted to the U.S. Stocks as well as Exchange Payment (SEC).
Why Is CLOV Stock Up Today?
Today, CLOV stock is up in reaction to Clinton’s purchase, which investors are considering as a positive signal. Often times, supervisor trading task similar to this is essential to track because experts often have a far better sight of a firm’s long-term growth capacity than retail financiers.
So, keeping that in mind, are various other insiders of Clover bullish on the firm? In the past twelve month, experts have bought 2.2 million shares and also offered 22.9 million shares. That’s a web of 20.6 million shares marketed. This mass insider 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 wondering who else is wagering large on Clover Health. Allow’s leap right in.
Who Else Is Betting Big on Clover Health And Wellness?
As of the fourth quarter, 160 institutional investors own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) rise of 8.8%. Throughout the duration, the complete amount of shares held by institutional capitalists also raised from 105.7 million to 129.8 million, up virtually 23% QOQ. Allow’s have a look at the top five institutional shareholders.
Lead has 25.9 million shares or 7.65% ownership. The firm bought 8.8 million shares throughout Q4.
Greenoaks Resources Partners has 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 company bought 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 Services (NYSE: PNC) has 6.4 million shares or 1.88% ownership. The company offered 249,850 shares during Q4.
Out of the leading 5 shareholders, 3 funds minimized their positions and also 2 funds boosted their settings. Greenoaks Capital Partners had the most remarkable purchase, as the fund marketed about 50% of its existing placement during Q4. Two Sigma’s 6.6 million share purchase was also remarkable, as the acquisition put it amongst the leading 5 shareholders.