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

Why precisely is Clover Health trading higher now?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had just recently bought shares of CLOV stock. The transaction, which occurred on March 3, saw Clinton acquire 100,000 shares for an average cost of $2.52 per share. In total amount, Clinton’s current purchase totaled up to $252,530, according to a Form 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 feedback to Clinton’s acquisition, which capitalists are deeming a favorable signal. Often times, director trading task similar to this is very important to track because experts frequently have a much better sight of a company’s lasting development potential than retail financiers.

So, keeping that in mind, are other insiders of Clover bullish on the company? In the past 12 months, insiders have bought 2.2 million shares and also offered 22.9 million shares. That’s a net of 20.6 million shares offered. This mass insider selling seems to associate with CLOV stock’s decline of greater than 60% over the past one year.

Still, with Clinton’s current acquisition, capitalists are wondering that else is wagering huge 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) increase of 8.8%. During the duration, the total amount of shares held by institutional capitalists additionally boosted from 105.7 million to 129.8 million, up virtually 23% QOQ. Let’s have a look at the top five institutional shareholders.

Lead has 25.9 million shares or 7.65% ownership. The company purchased 8.8 million shares throughout Q4.
Greenoaks Funding Allies possesses 24.8 million shares or 7.34% possession. The firm offered 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The company bought 2.6 million shares during Q4.
Two Sigma Investments has 6.6 million shares or 1.95% ownership. The company bought all 6.6 million shares throughout Q4.
PNC Financial Provider (NYSE: PNC) possesses 6.4 million shares or 1.88% ownership. The company marketed 249,850 shares throughout Q4.
Out of the leading five investors, three funds decreased their placements as well as two funds enhanced their placements. Greenoaks Capital Partners had one of the most remarkable transaction, as the fund offered about 50% of its existing position during Q4. 2 Sigma’s 6.6 million share acquisition was also remarkable, as the purchase placed it amongst the leading 5 shareholders.