Insider Weekends: Cluster of Insider Sales at Coinbase

The San Francisco Bay Area is experiencing a strong storm this weekend that has caused disruptions like power outages and flooding. I’ve unfortunately been without power for several hours and my usual fallback of a mobile hotspot did not work (a mobile tower is probably also impacted). So unfortunately I am not including any commentary with this post and am going to stick to highlighting the top 5 insider purchases and sales this week.

Welcome to edition 590 of Insider Weekends. Insider buying decreased last week with insiders purchasing $101.39 million of stock purchased compared to $150.04 million in the week prior. Selling on the other hand increased to $1.88 billion compared to $1.36 billion in the week prior.

Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week went up to 18.55. In other words, insiders sold almost 19 times as much stock as they purchased. The Sell/Buy ratio this week was unfavorable compared to the prior week when the ratio stood at 9.07.

Notable Insider Buys:

1. Truist Financial Corporation (TFC): $64.44

CEO William H. Rogers Jr. acquired 67,000 shares of this regional bank, paying $61.85 per share for a total amount of $4.14 million. Mr. Rogers increased his stake by 10.38% to 712,513 shares with this purchase.

You can view the list of recent insider transactions for Truist Financial Corporation here.

P/E: 15.21 Forward P/E: 13.29 Industry P/E: 15.20
P/S: 3.75 Price/Book: 1.38 EV/EBITDA: N/A
Market Cap: $86.02B Avg. Daily Volume: 4,584,140 52 Week Range: $40.05 – $64.78

2. NextPlay Technologies, Inc. (NXTP): $2.2

Co-CEO Nithinan Boonyawattanapisut acquired 1,985,974 shares of this technology solutions company, paying $2.00 per share for a total amount of $3.97 million. Ms. Boonyawattanapisut increased her stake by 632.01% to 2,300,204 shares with this purchase.

You can view the list of recent insider transactions for NextPlay Technologies, Inc. here.

P/E: N/A Forward P/E: 27.5 Industry P/E: N/A
P/S: N/A Price/Book: 2.95 EV/EBITDA: -305.9
Market Cap: $209.45M Avg. Daily Volume: 3,067,509 52 Week Range: $1.26 – $4.99

3. Volcon, Inc. (VLCN): $9.3

Shares of this electric off road powersport vehicles manufacturer were acquired by 2 insiders:

  • Director Adrian James acquired 373,298 shares, paying $9.01 per share for a total amount of $3.36 million. These shares were purchased indirectly by a limited liability company.
  • Chief Technology Officer Christian Okonsky acquired 31,281 shares, paying $9.23 per share for a total amount of $288,628. Mr. Okonsky increased his stake by 10.47% to 330,031 shares with this purchase.

You can view the list of recent insider transactions for Volcon, Inc. here.

P/E: N/A Forward P/E: N/A Industry P/E: N/A
P/S: N/A Price/Book: 2.19 EV/EBITDA: N/A
Market Cap: $105.44M Avg. Daily Volume: 1,416,092 52 Week Range: $6.91 – $15.5

4. E2open Parent Holdings, Inc. (ETWO): $12.24

Shares of this cloud-based and end-to-end supply chain management SaaS platform were acquired by 3 insiders:

  • Chief Executive Officer Michael Farlekas acquired 100,000 shares, paying $11.46 per share for a total amount of $1.15 imllion. Mr. Farlekas increased his stake by 65.13% to 253,531 shares with this purchase.
  • Chief Financial Officer Jarett Janik acquired 10,000 shares, paying $11.45 per share for a total amount of $114,535. Mr. Janik increased his stake by 14.55% to 78,720 shares with this purchase.
  • Chief Operating Officer Peter Hantman acquired 6,280 shares, paying $11.95 per share for a total amount of $75,040. Mr. Hantman increased his stake by 9.14% to 75,000 shares with this purchase.

You can view the list of recent insider transactions for E2open Parent Holdings, Inc. here.

P/E: N/A Forward P/E: 94.15 Industry P/E: 66.07
P/S: 13.45 Price/Book: 1.14 EV/EBITDA: 151.39
Market Cap: $4.16B Avg. Daily Volume: 2,581,127 52 Week Range: $8.26 – $14.58

5. Mueller Industries, Inc. (MLI): $49.17

Director Gary S. Gladstein acquired 11,399 shares of this metal fabrication company, paying $47.71 per share for a total amount of $543,846. Mr. Gladstein increased his stake by 9.35% to 133,251 shares with this purchase.

You can view the list of recent insider transactions for Mueller Industries, Inc. here.

P/E: 7.36 Forward P/E: 7.45 Industry P/E: N/A
P/S: 0.81 Price/Book: 2.55 EV/EBITDA: 5.3
Market Cap: $2.82B Avg. Daily Volume: 191,403 52 Week Range: $27.76 – $49.65

You can view the full list of purchases from this Insider Buying page.

Notable Insider Sales:

1. Alphabet Inc. (GOOG): $2772.5

Shares of Alphabet were sold by 2 insiders:

  • Director Lawrence Page sold 83,332 shares for $2853.70, generating $237.8 million from the sale.
  • Chief Executive Officer Sundar Pichai sold 3,000 shares for $2875.05, generating $8.63 million from the sale.

You can view the list of recent insider transactions for Alphabet Inc. here.

P/E: 30.07 Forward P/E: 26.16 Industry P/E: 29.41
P/S: 8.36 Price/Book: 7.79 EV/EBITDA: 23.04
Market Cap: $1.84T Avg. Daily Volume: 1,077,656 52 Week Range: $1514.62 – $2936.41

2. Facebook, Inc. (FB): $324.61

Shares of Facebook were sold by 2 insiders:

  • COB and CEO Mark Zuckerberg sold 337,500 shares for $334.37, generating $112.85 million from the sale. These shares were sold indirectly by various entities.
  • Chief Legal Officer Jennifer Newstead sold 125 shares for $339.90, generating $42,487 from the sale.

You can view the list of recent insider transactions for Facebook, Inc. here.

P/E: 24.11 Forward P/E: 20.26 Industry P/E: 29.41
P/S: 8.73 Price/Book: 6.64 EV/EBITDA: 16.58
Market Cap: $915.22B Avg. Daily Volume: 16,522,787 52 Week Range: $244.61 – $384.33

3. Coinbase Global, Inc. (COIN): $300.84

Shares of this cryptoeconomy focused broker were sold by 3 insiders:

  • Director Frederick Ernest Ehrsam III sold 267,649 shares for $298.23, generating $79.82 million from the sale. These shares were sold indirectly by various trusts.
  • Chief Legal Officer Paul Grewal sold 49,873 shares for $309.00, generating $15.41 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
  • Chief Product Officer Surojit Chatterjee sold 20,000 shares for $304.01, generating $6.08 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.

You can view the list of recent insider transactions for Coinbase Global, Inc. here.

P/E: 22.16 Forward P/E: 47.6 Industry P/E: 16.09
P/S: 15.99 Price/Book: 13.66 EV/EBITDA: 19.89
Market Cap: $78.79B Avg. Daily Volume: 4,518,547 52 Week Range: $208 – $429.54

4. Elastic N.V. (ESTC): $168.9

CEO and Chairman Shay Banon sold 165,920 shares of this software application company for $171.01, generating $28.37 million from the sale.

You can view the list of recent insider transactions for Elastic N.V. here.

P/E: N/A Forward P/E: -511.82 Industry P/E: 66.07
P/S: 23.11 Price/Book: 34.02 EV/EBITDA: -133.3
Market Cap: $15.55B Avg. Daily Volume: 746,506 52 Week Range: $97.48 – $177.74

5. Apple Inc. (AAPL): $148.69

Shares of Apple were sold by 2 insiders:

  • Senior Vice President, CFO Luca Maestri sold 165,829 shares for $148.62, generating $24.65 million from the sale.
  • Senior Vice President Deirdre O’Brien sold 18,247 shares for $146.35, generating $2.67 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.

You can view the list of recent insider transactions for Apple Inc. here.

P/E: 29.11 Forward P/E: 26.18 Industry P/E: 26.88
P/S: 7.08 Price/Book: 38.3 EV/EBITDA: 22.82
Market Cap: $2.46T Avg. Daily Volume: 75,770,900 52 Week Range: $107.32 – $157.26

You can view the full list of sales from this Insider Sales page.

The list of all insider purchases and sales by management people is only available to InsideArbitrage Premium and Plus members.

Disclaimer: Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

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