Today, shareholders of Clover Health (NASDAQ: CLOV) are smiling ear to ear. Although CLOV stock continues to be down greater than 25% year-to-date (YTD), shares of the firm are up over 20% today.
Why specifically is Clover Health trading higher today?
Over the weekend, it was reported that Clover supervisor Chelsea Clinton had actually just recently purchased shares of CLOV stock. The transaction, which happened on March 3, saw Clinton buy 100,000 shares for a typical cost of $2.52 per share. In total amount, Clinton’s current transaction totaled up to $252,530, according to a Form 4 submitted to the united state Securities and Exchange Compensation (SEC).
Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in feedback to Clinton’s acquisition, which investors are viewing as a positive signal. Many times, supervisor trading task such as this is important to track because insiders typically have a much better view of a firm’s long-lasting growth possibility than retail investors.
So, with that said in mind, are other insiders of Clover bullish on the company? In the past twelve month, experts have actually purchased 2.2 million shares and also marketed 22.9 million shares. That’s an internet of 20.6 million shares offered. This mass expert marketing appears to associate with CLOV stock’s decrease of more than 60% over the past one year.
Still, with Clinton’s current acquisition, financiers are questioning that else is wagering large on Clover Health and wellness. Allow’s jump right in.
That Else Is Betting Big on Clover Health And Wellness?
As of the 4th quarter, 160 institutional investors own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) increase of 8.8%. During the period, the complete amount of shares held by institutional financiers likewise boosted from 105.7 million to 129.8 million, up almost 23% QOQ. Let’s take a look on top 5 institutional shareholders.
Vanguard has 25.9 million shares or 7.65% possession. The firm acquired 8.8 million shares throughout Q4.
Greenoaks Funding Partners has 24.8 million shares or 7.34% possession. The company sold 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm acquired 2.6 million shares during Q4.
2 Sigma Investments has 6.6 million shares or 1.95% ownership. The company purchased all 6.6 million shares throughout Q4.
PNC Financial Provider (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The company marketed 249,850 shares during Q4.
Out of the top 5 shareholders, three funds lowered their placements and 2 funds boosted their positions. Greenoaks Resources Allies had the most significant deal, as the fund marketed about 50% of its existing setting throughout Q4. Two Sigma’s 6.6 million share purchase was additionally noteworthy, as the acquisition put it amongst the top 5 investors.