Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $2,681,850.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $94,043.54. This represents a 96.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was 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 value 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 Price Performance

COIN traded down $3.36 during trading on Wednesday, hitting $172.21. 5,214,776 shares of the company traded hands, compared to its average volume of 9,723,409. The company has a market cap of $43.72 billion, a PE ratio of 18.13 and a beta of 3.65. The stock’s 50-day simple moving average is $206.16 and its two-hundred day simple moving average is $241.83. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

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

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Coinbase Global by 0.7% during the 4th 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 3.7% in the 4th 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 last quarter. Norges Bank purchased a new stake in Coinbase Global in the 4th quarter worth about $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $372,450,000. Finally, Northern Trust Corp grew its stake in shares of Coinbase Global by 20.3% during the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after buying an additional 218,400 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COIN. The Goldman Sachs Group started coverage on Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Canaccord Genuity Group upped their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $305.00 price objective on shares of Coinbase Global in a report on Wednesday, March 26th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $298.74.

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.