Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 25,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 stock was 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 shares were 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 transaction of $19,112,232.00.

Coinbase Global Trading Down 1.6 %

NASDAQ:COIN opened at $260.01 on Thursday. The company has a 50-day moving average price of $284.12 and a 200-day moving average price of $229.01. The stock has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. 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, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was up 78.8% compared to the same quarter last year. Equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its stake in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $55,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Oppenheimer lifted their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Needham & Company LLC increased their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.