Insiders Are Dumping These 5 Financial Stocks

4. Coinbase Global Inc (NASADQ:COIN)

Number of Hedge Fund Investors: 41

Coinbase Global Inc (NASADQ:COIN) shares have gained about 77% this year amid Bitcoin posting a roaring rebound. However, the stock saw several insider selling transactions this month. Gokul Rajaram, a board member at Coinbase Global Inc (NASADQ:COIN), sold 1,145 shares of Coinbase Global Inc (NASADQ:COIN) at $260.00 per share on March 21. Coinbase Global Inc’s (NASADQ:COIN) CFO Alesia Haas also sold 4,750 shares of Coinbase Global Inc (NASADQ:COIN) on March 15. Since then the stock has jumped 15%.

Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its fourth quarter 2023 investor letter:

Coinbase Global, Inc. (NASDAQ:COIN) climbed an incredible 131.7% in the quarter outpacing the 57% gain in bitcoin over the same period as investors became excited about the potential approval of a Bitcoin ETF in the new year. Coinbase continues to stand out as the lead survivor in an industry of fading and failing leaders. Cost savings initiatives taken earlier in the year have resulted in three quarters of positive EBITDA leading to expectations for “meaningful positive adjusted EBITDA” for the full year 2023. We continue to believe COIN has the potential to be the platform for crypto with $5B in liquidity providing the ability to invest and weather any crypto winters.”