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In recent transactions, Alesia J. Haas, the Chief Financial Officer of Coinbase Global , Inc. (NASDAQ:COIN), sold a significant amount of the company’s Class A common stock. On March 24, Haas offloaded a total of 9,316 shares at a consistent price of $200 per share, resulting in total proceeds of $1,863,200. The transaction comes as Coinbase demonstrates strong financial health with a current ratio of 2.28, indicating robust liquidity. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
The sales were conducted under a pre-established Rule 10b5-1 trading plan, which Haas adopted on August 29, 2024, during an open trading window. Following these transactions, Haas retains direct ownership of 114,866 shares and indirect ownership of 15,673 shares through ACB 2021, LLC, where she is the sole member. The company has shown impressive performance with a 115% revenue growth in the last twelve months and maintains a healthy gross profit margin of 86%.
These transactions are part of routine financial management by executives and are closely monitored by investors for insights into executive confidence and company performance. With a beta of 3.66, COIN exhibits significant price volatility, making it crucial for investors to stay informed. Discover 8 more exclusive InvestingPro Tips and comprehensive analysis to make better-informed investment decisions.
In other recent news, Coinbase Global Inc. is reportedly in advanced discussions to acquire Deribit, a prominent trading platform for Bitcoin and Ether options. This potential acquisition, which involves transferring Deribit’s Dubai license to Coinbase, has been communicated to Dubai regulators. The valuation of Deribit was previously reported to be between $4 billion and $5 billion. However, it is still unclear whether a final agreement has been reached between the two companies. Meanwhile, Goldman Sachs has resumed its analysis of Coinbase, assigning a Neutral rating and setting a price target of $195. The analysis highlights potential growth due to rising cryptocurrency prices and possible regulatory reforms, though it also notes risks from lower crypto prices.
In another development, LQR House Inc. has decided to incorporate Bitcoin into its corporate treasury, selecting Coinbase Prime for its security and services. Additionally, David Sacks, an adviser to former President Trump, and his venture-capital firm Craft Ventures have divested over $200 million in digital assets, including shares in Coinbase. This divestment was noted in a White House memo, highlighting the substantial tax burden due to the sales. Furthermore, the Trump family is reportedly in talks to acquire a stake in the U.S. division of Binance, a cryptocurrency exchange that recently settled allegations of regulatory violations.
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