Brian Armstrong Sells 10,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. The trade was a 95.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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.
• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $188.58 on Friday. 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 business has a 50-day moving average of $241.79 and a 200-day moving average of $241.51. The stock has a market capitalization of $47.88 billion, a price-to-earnings ratio of 19.85 and a beta of 3.66. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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 predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its stake in shares of Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares during the period. Yousif Capital Management LLC increased its position in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares during the period. Finally, IPG Investment Advisors LLC lifted its position in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after buying an additional 45 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Rosenblatt Securities restated a “buy” rating and issued a $305.00 price target on shares of Coinbase Global in a report on Wednesday. Mizuho cut their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Bank of America cut their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

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.