On May 24, 2023, Brian Armstrong, Chairman and CEO, 10% Owner of Coinbase Global Inc (COIN, Financial), sold 29,730 shares of the company. This recent transaction is part of a series of insider sell activities by Armstrong over the past year. In this article, we will take a closer look at Brian Armstrong, Coinbase Global Inc, and the relationship between insider buy/sell activities and the stock price.
Who is Brian Armstrong?
Brian Armstrong is the co-founder, Chairman, and CEO of Coinbase Global Inc. He has been with the company since its inception in 2012. Under his leadership, Coinbase has grown to become one of the largest cryptocurrency exchanges in the world, offering a platform for users to buy, sell, and store various digital assets. Armstrong's vision and expertise in the field of cryptocurrencies have played a significant role in the company's success.
Coinbase Global Inc's Business Description
Coinbase Global Inc is a leading cryptocurrency exchange platform that allows users to trade various digital assets, including Bitcoin, Ethereum, and Litecoin. The company offers a secure and user-friendly platform for individuals, businesses, and institutions to buy, sell, and store cryptocurrencies. Coinbase also provides a suite of products and services, such as Coinbase Wallet, Coinbase Commerce, and Coinbase Custody, to cater to the diverse needs of its customers. The company's mission is to create an open financial system for the world by leveraging the power of digital assets and blockchain technology.
Brian Armstrong's Insider Trades
Over the past year, Brian Armstrong has sold a total of 520,300 shares of Coinbase Global Inc and has not purchased any shares. This recent sale of 29,730 shares is part of a series of insider sell activities by Armstrong.
Insider Trends
The insider transaction history for Coinbase Global Inc reveals that there have been 27 insider buys in total over the past year. In contrast, there have been 31 insider sells during the same period. This data suggests a mixed trend in insider activities, with a slightly higher number of sells compared to buys.
Valuation
On the day of Brian Armstrong's recent sell, shares of Coinbase Global Inc were trading at $57.71 apiece, giving the stock a market cap of $13,351.273 million.
The GF Value is an intrinsic value estimate developed by GuruFocus, which is calculated based on the following three factors:
- Historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at.
- A GuruFocus adjustment factor based on the company's past returns and growth.
- Future estimates of business performance from Morningstar analysts.
By analyzing the GF Value, investors can gain insights into the stock's intrinsic value and determine if it is overvalued, undervalued, or fairly valued. This information, combined with the insider buy/sell activities, can help investors make informed decisions about their investments in Coinbase Global Inc.
Conclusion
The recent sale of 29,730 shares by Brian Armstrong, Chairman and CEO, 10% Owner of Coinbase Global Inc, is part of a series of insider sell activities over the past year. While there have been more insider sells than buys in the past year, the overall trend is mixed. Investors should consider the stock's valuation based on the GF Value and other relevant factors before making any investment decisions.
