Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 27,751 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 27,751 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $389.05, for a total transaction of $10,796,526.55. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $204,640.30. The trade was a 98.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, July 16th, Brian Armstrong sold 198,300 shares of Coinbase Global stock. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00.
• On Tuesday, July 15th, Brian Armstrong sold 183,506 shares of Coinbase Global stock. The stock was sold at an average price of $397.17, for a total transaction 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 transaction of $65,485,648.26.
• On Tuesday, July 1st, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $338.29, for a total transaction of $8,457,250.00.
• On Thursday, June 26th, Brian Armstrong sold 113,735 shares of Coinbase Global stock. The stock was sold at an average price of $363.15, for a total transaction of $41,302,865.25.
• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65.
• On Wednesday, June 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $255.34, for a total transaction of $6,383,500.00.
• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $247.15, for a total transaction of $6,178,750.00.
• On Monday, May 5th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $200.54, for a total transaction of $5,013,500.00.
• On Wednesday, April 23rd, Brian Armstrong sold 20,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00.

Coinbase Global Trading Up 3.2%

Coinbase Global stock opened at $410.75 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The business’s 50-day simple moving average is $297.88 and its 200-day simple moving average is $250.10. The firm has a market capitalization of $104.28 billion, a PE ratio of 76.92, a PEG ratio of 30.30 and a beta of 3.70. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $422.30.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. Geode Capital Management LLC boosted its holdings in Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares during the period. ARK Investment Management LLC raised its position in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Norges Bank bought a new stake in Coinbase Global in the fourth quarter worth $536,484,000. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COIN. JPMorgan Chase & Co. cut their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Piper Sandler increased their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. HC Wainwright reissued a “sell” rating and set a $300.00 target price (down previously from $305.00) on shares of Coinbase Global in a research report on Thursday, July 10th. Rosenblatt Securities raised their price target on shares of Coinbase Global from $300.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the company a “neutral” rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $313.10.

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.