Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 58,269 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 3rd, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $320.01 on Thursday. The firm’s fifty day simple moving average is $208.71 and its 200 day simple moving average is $214.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $101.34 and a twelve month high of $341.75. The firm has a market capitalization of $80.11 billion, a price-to-earnings ratio of 54.61 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 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. Cowen AND Company LLC boosted its stake in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $251.00.

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.