Brian Armstrong Sells 25,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00.
• 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 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 stock was sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Stock Down 1.7 %

Shares of NASDAQ:COIN opened at $270.37 on Friday. The company has a 50 day moving average of $285.66 and a 200-day moving average of $236.83. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. The stock has a market cap of $67.69 billion, a price-to-earnings ratio of 46.14 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods dropped their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Institutional Trading of Coinbase Global

A number of institutional investors have recently bought and sold shares of COIN. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth $409,919,000. Proficio Capital Partners LLC lifted its stake in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $38,535,000. 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.