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 stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total transaction of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Price Performance

COIN opened at $260.01 on Thursday. The firm’s fifty day moving average price is $284.12 and its two-hundred day moving average price is $229.01. The company has a market capitalization of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global during the third quarter valued at about $32,000. Brown Brothers Harriman & Co. grew its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Abich Financial Wealth Management LLC raised its position in Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after acquiring an additional 181 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Coinbase Global in the third quarter valued at about $55,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised their price target on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Oppenheimer lifted their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $288.44.

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.