Coinbase Legal Chief Sells $3M in Stock Amid Broader Insider Sales, Signaling Valuation Caution
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Coinbase's Chief Legal Officer Paul Grewal recently sold nearly 30,000 company shares worth over $3 million.
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Grewal has sold 57,685 Coinbase shares over the past year as insiders sell more than they buy shares.
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Coinbase shares trade at a premium valuation with a current price of $117 and GuruFocus Value estimate of $67.
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The insider selling and overvaluation signal risks that warrant investor caution despite Coinbase's leadership in the growing crypto industry.
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GuruFocus analysis indicates the sales may reflect insider views on valuation, not Coinbase's long-term outlook, but diligence is still advised.