Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 10,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Brian Armstrong also recently made the following trade(s):

• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00.
• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00.
• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00.

Coinbase Global Stock Performance

COIN opened at $193.95 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $49.24 billion, a PE ratio of 20.42 and a beta of 3.66. The business has a fifty day simple moving average of $243.66 and a 200 day simple moving average of $241.88. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in COIN. Wellington Management Group LLP grew its position in Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after buying an additional 302,595 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at $25,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Coinbase Global during the 4th quarter worth $15,578,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the fourth quarter worth $26,000. Finally, IronOak Wealth LLC. acquired a new position in Coinbase Global in the fourth quarter valued at about $765,000. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on COIN shares. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities restated a “buy” rating and set a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.