Coinbase Global, Inc. (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 on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $264.33 on Wednesday. The firm has a market capitalization of $66.18 billion, a PE ratio of 45.11 and a beta of 3.59. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $283.16 and its 200 day simple moving average is $228.80.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COIN. Principal Financial Group Inc. grew its stake in shares of Coinbase Global by 15.6% in the second quarter. Principal Financial Group Inc. now owns 16,805 shares of the cryptocurrency exchange’s stock worth $3,735,000 after acquiring an additional 2,264 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Coinbase Global by 23.7% during the 2nd quarter. Victory Capital Management Inc. now owns 60,761 shares of the cryptocurrency exchange’s stock worth $13,503,000 after purchasing an additional 11,627 shares during the period. Candriam S.C.A. raised its position in shares of Coinbase Global by 9.8% during the second quarter. Candriam S.C.A. now owns 10,506 shares of the cryptocurrency exchange’s stock valued at $2,335,000 after buying an additional 938 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Coinbase Global by 24.2% in the second quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock valued at $306,000 after buying an additional 268 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Coinbase Global during the second quarter worth about $116,000. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COIN has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Needham & Company LLC boosted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $288.44.

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.