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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. This represents a 95.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were 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.
• 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.

Coinbase Global Stock Down 7.8 %

NASDAQ:COIN opened at $173.93 on Friday. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The stock’s fifty day moving average is $239.36 and its two-hundred day moving average is $241.64. The stock has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its earnings results 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 20.64% and a net margin of 39.34%. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Trading of Coinbase Global

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares during the period. Geode Capital Management LLC increased its position in shares of Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares during the period. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at $409,919,000. Norges Bank purchased a new position in Coinbase Global in the fourth quarter valued at $536,484,000. Finally, Groupama Asset Managment acquired a new position in Coinbase Global during the 4th quarter worth $372,450,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday. Finally, JMP Securities boosted their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price 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.