Coinbase Global Inc (NASDAQ:COIN), a leading provider of financial infrastructure and technology for the crypto-economy, has reported an insider sell according to a recent SEC filing. The company's Chief Accounting Officer, Jennifer Jones, sold 27,989 shares of the company on February 27, 2024. The transaction was disclosed in an SEC Filing.
Over the past year, Jennifer Jones has sold a total of 126,836 shares of Coinbase Global Inc and has not made any purchases of the stock. This latest transaction continues a trend of insider selling at the company, with a total of 91 insider sells and only 1 insider buy over the past year.
On the day of the insider's recent sell, shares of Coinbase Global Inc were trading at $202.9, giving the company a market cap of $48.648 billion. The price-earnings ratio of the company stands at 557.78, which is significantly higher than the industry median of 18.74 and also above the company's historical median price-earnings ratio.
The valuation metrics suggest that Coinbase Global Inc's stock is currently trading at a premium. With a share price of $202.9 and a GuruFocus Value of $76.97, the price-to-GF-Value ratio is 2.64, indicating that the stock is Significantly Overvalued according to GuruFocus's valuation model.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, it is important to note that insider selling can occur for various reasons and may not necessarily indicate a bearish outlook on the company's future performance.
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.
