Crypto Stock Insiders Add to Positions

JC Parets
May 18, 2022

The most significant insider transaction on today’s Hot List is a Form 4 filing by Coinbase Global $COIN co-founder and director Fred Ehrsam.

His purchase is worth roughly $50 million.

There was also some insider activity reported in the crypto miner Marathon Digital Holdings $MARA, as a director purchased about $150,000 worth of stock. 

This activity in crypto stocks like Coinbase and Marathon stands out as insiders appear to be warming up to the beaten down industry.

Today’s action follows bullish insider buying in Microstrategy $MSTR last week, which is ultimately a Bitcoin fund.

Value Act Partners continues to build its position in Insight Enterprises $NSIT, as it just reported an additional $9.7 million purchase.

In another significant Form 4 filing, Fredrik Mohn’s Perestroika reported a $7.5 million purchase in the oilfield services stock Transocean $RIG.

The Norwegian investment company specializes in the oil and gas, shipping, and infrastructure space.

Here’s The Hot List, with data through May 17, 2022:

Over in Washington, there was some activity from Rep. Josh Gottheimer of New Jersey, who reported positions in Apple $AAPL and Starbucks Corporation $SBUX.

Speaking of SBUX, founder and interim CEO Howard Schulz just reported an additional $5 million purchase. This follows a purchase of roughly $10 million from last week.

Rep. Victoria Spartz of Indiana also reported an acquisition worth between $15,000 and $50,000 in the real estate investment trust Simon Property Group $SPG.

In the options market, there was bullish flow in Warner Bros Discovery $WBD, Walgreens Boots Alliance $WBA, and the technology conglomerate Cisco Systems $CSCO.

There was also bullish options activity in Pinterest $PINS for the second day in a row.

Stay tuned. We'll be back Thursday with more insider action.

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All Star Charts Team

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