5 Stocks with Heavy Insider Buying in 2023

3. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 27

Fred Ehrsam, a director at Coinbase Global, Inc. (NASDAQ:COIN), bought over $50 million worth of Coinbase shares in 2023 in multiple transactions. He bought about 810,000 shares at an average price of about $61.78. Coinbase Global, Inc. (NASDAQ:COIN) shares were trading at $61.33 as of May 19. Coinbase Global, Inc. (NASDAQ:COIN) is up about 48% over the past six months.

As of the end of the fourth quarter of 2022, 27 hedge funds had stakes in Coinbase Global, Inc. (NASDAQ:COIN), according to Insider Monkey’s database. The most notable hedge fund stakeholder of Coinbase Global, Inc. (NASDAQ:COIN) was ARK Investment Management of Catherine D. Wood.