Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $2,681,850.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $94,043.54. This trade represents a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00.
• 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 stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Trading Down 1.9 %

Shares of COIN stock traded down $3.36 on Wednesday, hitting $172.21. The stock had a trading volume of 5,214,776 shares, compared to its average volume of 9,723,409. The company’s 50 day moving average price is $206.16 and its 200-day moving average price is $241.83. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The firm has a market capitalization of $43.72 billion, a P/E ratio of 18.13 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the last quarter. MML Investors Services LLC raised its position in shares of Coinbase Global by 47.3% during the 3rd quarter. MML Investors Services LLC now owns 12,550 shares of the cryptocurrency exchange’s stock worth $2,236,000 after acquiring an additional 4,032 shares in the last quarter. Virtu Financial LLC acquired a new position in Coinbase Global in the third quarter valued at approximately $3,866,000. Wilmington Savings Fund Society FSB purchased a new position in Coinbase Global in the third quarter valued at approximately $94,000. Finally, Principal Financial Group Inc. lifted its position in shares of Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after buying an additional 36,843 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COIN shares. Cantor Fitzgerald started coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target for the company. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Piper Sandler upped their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $298.74.

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.