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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $178.79, for a total value of $2,681,850.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $94,043.54. This represents a 96.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.15, for a total transaction 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 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.

Coinbase Global Stock Down 1.9 %

NASDAQ COIN opened at $172.21 on Thursday. The business’s 50-day moving average is $204.11 and its 200 day moving average is $241.35. The stock has a market capitalization of $43.72 billion, a PE ratio of 18.13 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. JMP Securities lowered their price target on Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler upped their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. The Goldman Sachs Group assumed coverage on Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $298.74.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COIN. Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $536,484,000. Groupama Asset Managment bought a new stake in Coinbase Global during the 4th quarter valued at approximately $372,450,000. Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock worth $101,431,000 after acquiring an additional 333,600 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

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.