{"id":21464,"date":"2023-06-12T08:33:34","date_gmt":"2023-06-12T12:33:34","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/5-hot-insider-trades-hedge-fund-hits-cathie-wood-snaps-up-more-coinbase\/"},"modified":"2023-06-12T08:33:35","modified_gmt":"2023-06-12T12:33:35","slug":"5-hot-insider-trades-hedge-fund-hits-cathie-wood-snaps-up-more-coinbase","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21464","title":{"rendered":"5 hot insider trades &#038; hedge fund hits: Cathie Wood snaps up more Coinbase"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p dir=\"ltr\">Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: news out of Ark Invest and Coinbase, and top brass buys at M&amp;T Bank, Zumiez, <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> ACI Worldwide <\/span><\/span> , and Loews.<\/p>\n<p dir=\"ltr\">InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.<\/p>\n<h2 dir=\"ltr\"><strong>Ark Invest buys more Coinbase shares amid SEC crackdown<\/strong><\/h2>\n<p dir=\"ltr\">Cathie Wood&#8217;s Ark Invest boosted its holdings in <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Coinbase Global <\/span><\/span> (NASDAQ:) amidst a crypto industry crackdown by the SEC, driving the stock to nearly five-month lows. Data from Cathie&#8217;s Ark revealed that three of Wood&#8217;s funds purchased over 400,000 Coinbase shares, with her main ARK Innovation ETF (NYSE:) acquiring more than 300,000. This occurred as Coinbase&#8217;s stock price dropped by around 20% at the start of the week following an SEC lawsuit for running an unlicensed exchange and issuing cease and desist letters over its staking services.<\/p>\n<p dir=\"ltr\">Coinbase is the fifth largest weightage in Ark&#8217;s Innovation ETF, which has steadily acquired the stock since its 2021 listing.<\/p>\n<p dir=\"ltr\"><img decoding=\"async\" title=\"InvestingPro | Know Market Moves\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/pic9b03b2765cf765982b681207a0adb0d3.jpg\" alt=\"InvestingPro | Know Market Moves\"><\/p>\n<h2 dir=\"ltr\"><strong>M&amp;T Bank&#8217;s new CFO buys $1.2 million in stock<\/strong><\/h2>\n<p dir=\"ltr\">M&amp;T Bank&#8217;s (NYSE:) recently appointed CFO, Daryl Bible, purchased 10,000 common shares, worth more than $1.2 million at $120.3981-$121.3532, as InvestingPro reported in real time. These shares encompass his entire stake in the company.<\/p>\n<p dir=\"ltr\">The company beat the Street estimates for its latest  in April.<\/p>\n<p dir=\"ltr\">Last month, Morgan Stanley called out midcap banks, including M&amp;T Bank, as heading for a short squeeze after a sharp fall since March.<\/p>\n<h2 dir=\"ltr\"><strong>3 more insider buys<\/strong><\/h2>\n<p dir=\"ltr\">Zumiez (NASDAQ:) saw a couple of insider buys, including from CEO, Richard Miles Brooks, who bought 74,930 common shares, worth more than $1M at $13.57, and from President International, Adam Christopher Ellis, who bought 10,000 common shares, worth nearly $150,000 at $14.67.<\/p>\n<p dir=\"ltr\">ACI Worldwide (NASDAQ:) President and CEO, Thomas Warsop, purchased 43,000 common shares, worth around $1 million at $23.5874-$24.1629. Warsop owns a total of 178,307 common shares following the latest transactions.<\/p>\n<p dir=\"ltr\">Loews (NYSE:) SVP\/Corp Dev and Strategy, Benjamin Tisch, purchased 330,000 common shares from, worth about $19M at $56.36-$57.88. Tisch owns a total of 350,309.80 shares following the transactions.<\/p>\n<p dir=\"ltr\">Get a leg up on the market: Always be the first to know with InvestingPro.<\/p>\n<p dir=\"ltr\">Start your free 7-day trial now.<\/p>\n<p><img decoding=\"async\" title=\"InvestingPro | Be The First To Know\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/pic9ddb6d5bb5d334bbb28ebd7244bfd566.png\" alt=\"InvestingPro | Be The First To Know\"><\/p>\n<p><em>Note: The original version of this article erroneously stated that ACI Worldwide&#8217;s CEO bought $1 billion in stock. This has been corrected.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/5-hot-insider-trades--hedge-fund-hits-cathie-wood-snaps-up-more-coinbase-3102546\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: news out of Ark Invest and Coinbase, and top brass buys at M&amp;T Bank, Zumiez, ACI Worldwide , and Loews. InvestingPro subscribers got this news in rapid fire. Never be left in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-21464","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 hot insider trades &amp; hedge fund hits: Cathie Wood snaps up more Coinbase | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: news out of Ark Invest\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=21464\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 hot insider trades &amp; 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