Brian Armstrong Sells 25,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $161,639.80. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00.
• 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 Trading Up 6.0 %

NASDAQ COIN opened at $310.98 on Friday. The stock has a market cap of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $341.75. The company’s 50-day moving average price is $222.79 and its 200-day moving average price is $217.21. 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 (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Analysts Set New Price Targets

COIN has been the topic of several research reports. Needham & Company LLC lifted their target price on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.22.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth $25,000. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global during the 2nd quarter valued at about $29,000. Versant Capital Management Inc raised its holdings in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $32,000. 68.84% of the stock is currently 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.