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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $161,639.80. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00.
• On Tuesday, September 3rd, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75.

Coinbase Global Price Performance

NASDAQ:COIN opened at $310.98 on Thursday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. The business’s 50-day moving average price is $219.83 and its 200 day moving average price is $216.55.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on COIN shares. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Barclays boosted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC upped their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. One investment 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’s stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $255.22.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter valued at approximately $409,919,000. Renaissance Technologies LLC boosted its stake in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. American Century Companies Inc. grew its position in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. APEIRON CAPITAL Ltd purchased a new position in shares of Coinbase Global during the first quarter valued at $108,434,000. Finally, Geode Capital Management LLC raised its position 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 valued at $609,789,000 after buying an additional 314,388 shares during the period. 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.