Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 23,075 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Monday, April 15th. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $125,324.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $129.07, for a total transaction of $2,978,290.25.

Coinbase Global Stock Performance

COIN opened at $213.78 on Thursday. The firm has a fifty day moving average price of $221.60 and a 200 day moving average price of $154.18. The stock has a market cap of $51.79 billion, a P/E ratio of 791.78 and a beta of 3.41. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the business posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on COIN. Citigroup boosted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Bank of America increased their price objective on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Barclays boosted their target price on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research note on Thursday, March 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. increased its stake in Coinbase Global by 18.4% during the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after buying an additional 275 shares in the last quarter. United Bank acquired a new stake in shares of Coinbase Global in the first quarter worth approximately $286,000. Bank of New York Mellon Corp increased its position in shares of Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after purchasing an additional 1,844 shares in the last quarter. American Century Companies Inc. boosted its stake in Coinbase Global by 269.2% during the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after purchasing an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Coinbase Global by 26.6% during the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after buying an additional 232 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.