Director Gokul Rajaram Sells Shares of Coinbase Global Inc (COIN)
Gokul Rajaram, a director at Coinbase Global Inc (NASDAQ:COIN), sold 1,145 shares of the company on March 21, 2024, according to a recent SEC Filing. This transaction was executed at a price of $260 per share, resulting in a total sale amount of $297,700.
Coinbase Global Inc (NASDAQ:COIN) is a digital currency exchange platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. The company's platform allows users to create their own cryptocurrency wallets and start buying or selling cryptocurrency by connecting with their bank accounts. In addition, it provides a suite of services that enables users to invest, spend, save, earn, and use cryptocurrencies.
Over the past year, the insider has sold a total of 19,465 shares of Coinbase Global Inc (NASDAQ:COIN) and has not made any purchases of the stock. The recent sale by Gokul Rajaram is part of a broader pattern of insider transactions at the company. In the past year, there has been a total of 1 insider buy and 108 insider sells for Coinbase Global Inc (NASDAQ:COIN).
On the date of the insider's recent sale, shares of Coinbase Global Inc (NASDAQ:COIN) were trading at $260, giving the company a market capitalization of $61.88 billion. The price-earnings ratio of the company stands at 709.75, which is significantly higher than the industry median of 17.93 and also exceeds the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 3.35, with a GF Value of $77.69, indicating that Coinbase Global Inc (NASDAQ:COIN) is significantly overvalued according to GuruFocus's valuation model. The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
