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 firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00.
• 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 shares were sold at an average price of $307.30, for a total transaction 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 transaction 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 transaction of $19,112,232.00.

Coinbase Global Stock Up 3.0 %

COIN traded up $8.00 on Wednesday, hitting $274.90. The company had a trading volume of 6,239,527 shares, compared to its average volume of 7,833,966. The stock has a fifty day simple moving average of $283.93 and a 200-day simple moving average of $237.20. The firm has a market capitalization of $68.82 billion, a P/E ratio of 46.91 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. Coinbase Global, Inc. has a 52-week low of $137.13 and a 52-week high of $349.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. HC Wainwright lifted their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays upped 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. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $286.00.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $32,000. Institutional investors 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.