Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,881,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $144,786.76. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value 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.
• 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 shares were sold at an average price of $307.30, for a total value 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 value of $19,112,232.00.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $274.31 on Friday. The business’s fifty day moving average price is $280.97 and its two-hundred day moving average price is $238.16. The stock has a market cap of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. On average, analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Piper Sandler increased their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday. Monness Crespi & Hardt increased their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JMP Securities upped their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $301.17.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the 4th quarter worth $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth $25,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

About Coinbase Global

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.