Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 15,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $88,646.78. This trade represents a 96.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00.
• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00.
• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Trading Down 2.0 %

Coinbase Global stock opened at $157.28 on Tuesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a market capitalization of $39.93 billion, a price-to-earnings ratio of 16.56 and a beta of 3.65. The business’s fifty day simple moving average is $224.58 and its two-hundred day simple moving average is $243.09. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. GAMMA Investing LLC boosted its stake in Coinbase Global by 18,515.4% during the 1st quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock valued at $33,312,000 after purchasing an additional 192,375 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in Coinbase Global by 5.5% in the 1st quarter. AdvisorNet Financial Inc now owns 3,661 shares of the cryptocurrency exchange’s stock worth $631,000 after buying an additional 192 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Coinbase Global in the 1st quarter worth about $95,000. First Hawaiian Bank lifted its stake in Coinbase Global by 27.4% during the 1st quarter. First Hawaiian Bank now owns 1,675 shares of the cryptocurrency exchange’s stock valued at $288,000 after acquiring an additional 360 shares during the period. Finally, Kera Capital Partners Inc. boosted its holdings in shares of Coinbase Global by 4.1% during the 1st quarter. Kera Capital Partners Inc. now owns 35,875 shares of the cryptocurrency exchange’s stock valued at $6,179,000 after acquiring an additional 1,406 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Mizuho reduced their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler raised their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.89.

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.