Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 15,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This trade represents a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The shares were 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 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 shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Stock Down 2.0 %

Shares of COIN opened at $157.28 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $39.93 billion, a price-to-earnings ratio of 16.56 and a beta of 3.65. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The business’s 50 day simple moving average is $224.58 and its 200-day simple moving average is $243.09.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities lifted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Barclays lowered their price objective on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.89.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares during the period. Geode Capital Management LLC lifted its position in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after buying an additional 127,075 shares during the last quarter. Norges Bank purchased a new position in Coinbase Global during the fourth quarter worth $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global during the fourth quarter valued at $372,450,000. Finally, Northern Trust Corp raised its stake in shares of Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after acquiring an additional 218,400 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.