Coinbase Global (NASDAQ:COIN) CEO Brian Armstrong Sells 25,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $320.67, for a total transaction of $8,016,750.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $168,672.42. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, November 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00.
• On Monday, October 13th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00.
• On Thursday, October 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00.
• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $322.28, for a total transaction of $8,057,000.00.
• On Thursday, September 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $302.19, for a total transaction of $7,554,750.00.

Coinbase Global Stock Performance

Shares of COIN traded up $0.86 during trading hours on Friday, hitting $284.00. The stock had a trading volume of 11,743,446 shares, compared to its average volume of 9,520,020. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market capitalization of $76.58 billion, a PE ratio of 24.57 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a fifty day moving average price of $333.47 and a 200 day moving average price of $313.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Trading of Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Envestnet Asset Management Inc. increased its holdings in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Coinbase Global by 672.2% in the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after purchasing an additional 1,015 shares during the period. SP Asset Management LLC acquired a new stake in shares of Coinbase Global during the second quarter worth $360,000. Kera Capital Partners Inc. lifted its position in shares of Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after buying an additional 1,085 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after buying an additional 5,402 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and raised their target price for the stock from $300.00 to $425.00 in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group set a $404.00 price target on Coinbase Global in a research report on Friday, October 24th. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday, November 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.94.

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.