Coinbase Insiders Sell Over $120 Million Worth of COIN in December
According to data from Insider Alerts, Coinbase co-founder Ehrsam Frederick Ernest III was the most active seller of COIN shares in December. It was the most active month for Coinbase insiders selling shares, with a total volume of over $120 million. During this period, Ehrsam Frederick Ernest III sold over 450,000 shares in multiple transactions, including a single transaction of 114,142 shares for $14.9 million.
Selling by Other Coinbase Executives
Coinbase CPO Lawrence J Brock sold a total of 104,767 COIN shares for $18.3 million in December. Coinbase founder and CEO Brian Armstrong also sold 146,150 shares for a total of $21.6 million.
Additional Selling by Coinbase Executives
Other Coinbase executives such as CFO Alesia J. Haas, Director Rajaram Gokul, and COO Choi Emilie collectively offloaded millions of dollars’ worth of shares in December.
Coinbase Share Price and All-Time High
Despite the selling spree, COIN’s price reached $185.2 in December, representing a 450% increase year-to-date. However, the shares are still below their all-time high of $342.9 reached in November 2021.
Hot Take: Coinbase Insiders Cash Out Amidst Price Surge
The surge in COIN’s price has led Coinbase insiders to cash out millions of dollars’ worth of shares in December. This selling activity by key executives suggests that they are taking advantage of the price increase to realize profits. While the share price has seen significant growth this year, it has not yet reached its previous all-time high. This raises questions about the future trajectory of COIN and whether it can surpass its previous peak. Investors will be closely watching Coinbase’s performance and the actions of its insiders in the coming months.
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