Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $1,981,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $104,226.90. This represents a 95.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00.
• 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 shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00.

Coinbase Global Trading Down 5.0 %

Shares of Coinbase Global stock traded down $10.28 on Wednesday, hitting $193.95. 6,985,304 shares of the company’s stock traded hands, compared to its average volume of 9,623,827. The firm’s 50-day moving average price is $245.27 and its two-hundred day moving average price is $242.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $49.24 billion, a PE ratio of 20.42 and a beta of 3.66. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Canaccord Genuity Group upped their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $314.72.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC raised its holdings in shares of Coinbase Global by 11.0% during the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock worth $2,513,000 after acquiring an additional 1,393 shares during the period. Swedbank AB lifted its stake in Coinbase Global by 1.6% in the 3rd quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock valued at $8,233,000 after acquiring an additional 730 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Coinbase Global by 12.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,464 shares of the cryptocurrency exchange’s stock worth $2,577,000 after acquiring an additional 1,600 shares during the last quarter. DRW Securities LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $355,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.