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 company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 shares were 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 shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00.

Coinbase Global Stock Performance

Shares of COIN stock traded down $23.43 during mid-day trading on Tuesday, reaching $264.33. 11,542,130 shares of the company’s stock traded hands, compared to its average volume of 8,659,050. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $66.18 billion, a PE ratio of 45.11 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The firm has a 50 day moving average price of $282.26 and a two-hundred day moving average price of $228.53.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt upped their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Oppenheimer lifted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $288.44.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the company. Silverleafe Capital Partners LLC purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $358,000. Nordea Investment Management AB lifted its stake in Coinbase Global by 5.9% in the 4th quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange’s stock worth $3,772,000 after purchasing an additional 836 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at about $1,207,000. GAMMA Investing LLC grew its position in shares of Coinbase Global by 25.9% during the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock valued at $258,000 after purchasing an additional 214 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock worth $74,000 after acquiring an additional 154 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.