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

Why exactly is Clover Health trading higher right now?

Over the weekend break, it was reported that Clover director Chelsea Clinton had recently acquired shares of CLOV stock. The transaction, which happened 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 Form 4 submitted to the united state Stocks as well as Exchange Commission (SEC).

Why Is CLOV Stock Up Today?
Today, CLOV stock is up in feedback to Clinton’s acquisition, which capitalists are deeming a favorable signal. Oftentimes, supervisor trading task like this is essential to track due to the fact that experts usually have a far better view of a company’s lasting growth possibility than retail financiers.

So, with that in mind, are various other insiders of Clover favorable on the company? In the past one year, insiders have acquired 2.2 million shares as well as marketed 22.9 million shares. That’s an internet of 20.6 million shares marketed. 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 recent purchase, investors are questioning that else is betting big on Clover Health and wellness. Allow’s jump right in.

That Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional capitalists own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) increase of 8.8%. Throughout the duration, the total quantity of shares held by institutional investors additionally enhanced from 105.7 million to 129.8 million, up almost 23% QOQ. Let’s take a look at the top 5 institutional investors.

Lead has 25.9 million shares or 7.65% possession. The firm acquired 8.8 million shares during Q4.
Greenoaks Funding Allies possesses 24.8 million shares or 7.34% ownership. The company marketed 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm bought 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% ownership. The firm bought all 6.6 million shares throughout Q4.
PNC Financial Solutions (NYSE: PNC) owns 6.4 million shares or 1.88% ownership. The company marketed 249,850 shares throughout Q4.
Out of the leading five shareholders, three funds lowered their positions as well as two funds raised their placements. Greenoaks Resources Allies had the most significant deal, as the fund marketed regarding 50% of its existing setting during Q4. 2 Sigma’s 6.6 million share purchase was likewise noteworthy, as the procurement put it among the leading 5 shareholders.

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