Right now, investors of Clover Health (NASDAQ: CLOV) are smiling ear to ear. Although clov stock price today continues to be down greater than 25% year-to-date (YTD), shares of the business are up over 20% today.
Why specifically is Clover Health and wellness trading higher right now?
Over the weekend, it was reported that Clover supervisor Chelsea Clinton had actually lately acquired shares of CLOV stock. The purchase, which occurred on March 3, saw Clinton purchase 100,000 shares for a typical price of $2.52 per share. In total, Clinton’s current purchase amounted to $252,530, according to a Kind 4 submitted to the united state Securities and also Exchange Compensation (SEC).
Why Is CLOV Stock Up Today?
Now, CLOV stock is up in reaction to Clinton’s acquisition, which financiers are viewing as a positive signal. Often times, director trading activity like this is essential to track since insiders usually have a far better sight of a firm’s long-lasting development possibility than retail financiers.
So, with that in mind, are other experts of Clover bullish on the business? In the past twelve month, insiders have actually acquired 2.2 million shares and marketed 22.9 million shares. That’s a net of 20.6 million shares sold. This mass insider selling seems to associate with CLOV stock’s decline of more than 60% over the past one year.
Still, with Clinton’s recent acquisition, capitalists are wondering that else is wagering big on Clover Health and wellness. Allow’s jump right in.
Who Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional capitalists very own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) increase of 8.8%. During the period, the overall amount of shares held by institutional financiers additionally increased from 105.7 million to 129.8 million, up virtually 23% QOQ. Allow’s take a look on top five institutional shareholders.
Lead has 25.9 million shares or 7.65% ownership. The company acquired 8.8 million shares during Q4.
Greenoaks Capital Partners possesses 24.8 million shares or 7.34% possession. The company marketed 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 firm acquired all 6.6 million shares throughout Q4.
PNC Financial Provider (NYSE: PNC) possesses 6.4 million shares or 1.88% possession. The firm sold 249,850 shares throughout Q4.
Out of the top five investors, three funds decreased their positions as well as 2 funds increased their positions. Greenoaks Funding Partners had one of the most notable transaction, as the fund sold regarding 50% of its existing placement throughout Q4. Two Sigma’s 6.6 million share purchase was additionally notable, as the purchase placed it among the top five shareholders.