Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $19,112,232.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 3rd, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75.

Coinbase Global Trading Down 1.4 %

Shares of Coinbase Global stock opened at $320.01 on Thursday. The company has a market cap of $80.11 billion, a price-to-earnings ratio of 54.61 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $101.34 and a 1 year high of $341.75. The company’s fifty day simple moving average is $208.71 and its 200-day simple moving average is $214.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COIN. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC lifted their price objective on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $251.00.

Institutional Trading of Coinbase Global

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Coinbase Global in the third quarter valued at $3,866,000. TD Private Client Wealth LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $77,000. Sunbelt Securities Inc. raised its stake in shares of Coinbase Global by 25.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock valued at $124,000 after buying an additional 143 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Coinbase Global by 17.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock worth $517,000 after acquiring an additional 402 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.