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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $117,892.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, April 15th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50.
• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $256.30, for a total transaction 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.

Coinbase Global Stock Performance

COIN traded down $12.59 during trading on Tuesday, reaching $214.34. The company’s stock had a trading volume of 7,904,884 shares, compared to its average volume of 13,230,334. The company’s fifty day moving average price is $237.03 and its 200-day moving average price is $168.14. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 44.19 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the company earned ($2.46) EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wedbush upped their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $193.85.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the company. Fountainhead AM LLC boosted its position in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after buying an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares in the last quarter. Nilsine Partners LLC boosted its holdings in Coinbase Global by 1.2% during the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after buying an additional 81 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 86 shares during the period. Finally, Concord Wealth Partners increased its position in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.