Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,774,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00.

Coinbase Global Stock Up 1.5 %

Shares of COIN opened at $274.49 on Friday. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $125.81 and a 52 week high of $349.75. The stock’s 50-day moving average price is $285.22 and its 200-day moving average price is $236.89. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent analyst reports. Oppenheimer lowered their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Needham & Company LLC reduced their target price on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.06.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at about $32,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.