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 Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were 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 stock was sold at an average price of $302.19, for a total transaction of $7,554,750.00.
• On Tuesday, August 12th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $326.71, for a total value of $8,167,750.00.
• On Monday, August 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $317.09, for a total value of $7,927,250.00.
• On Wednesday, July 16th, Brian Armstrong sold 198,300 shares of Coinbase Global stock. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00.
• On Tuesday, July 15th, Brian Armstrong sold 183,506 shares of Coinbase Global stock. The shares were sold at an average price of $397.17, for a total value of $72,883,078.02.
• On Monday, July 14th, Brian Armstrong sold 165,443 shares of Coinbase Global stock. The shares were sold at an average price of $395.82, for a total value of $65,485,648.26.
• On Friday, July 11th, Brian Armstrong sold 27,751 shares of Coinbase Global stock. The stock was sold at an average price of $389.05, for a total value of $10,796,526.55.

Coinbase Global Trading Up 1.6%

Shares of COIN opened at $386.07 on Tuesday. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a market capitalization of $99.20 billion, a P/E ratio of 37.34 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm’s 50 day simple moving average is $323.75 and its 200 day simple moving average is $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.Coinbase Global’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Evelyn Partners Investment Management Europe Ltd raised its holdings in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 36 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global in the second quarter valued at about $30,000. City State Bank bought a new position in shares of Coinbase Global during the second quarter valued at about $33,000. Financial Gravity Companies Inc. purchased a new stake in shares of Coinbase Global during the second quarter worth about $34,000. Finally, Fourth Dimension Wealth LLC grew its stake in shares of Coinbase Global by 300.0% in the second quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Coinbase Global in a research report on Saturday, September 27th. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Bank of America decreased their price target on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Finally, JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $367.27.

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.