Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,774,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 directly owns 526 shares in the company, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction 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 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 stock was sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Trading Up 1.5 %

COIN opened at $274.49 on Friday. The business’s 50-day simple moving average is $285.22 and its 200-day simple moving average is $236.89. 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 company has a market cap of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61. Coinbase Global, Inc. has a one year low of $125.81 and a one year high of $349.75.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $284.06.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% during 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 in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds 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.