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 dated Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $161,639.80. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 shares were sold at an average price of $173.93, for a total value of $4,013,434.75.

Coinbase Global Stock Up 6.0 %

Shares of NASDAQ:COIN traded up $17.69 during midday trading on Wednesday, hitting $310.98. The stock had a trading volume of 13,245,859 shares, compared to its average volume of 11,193,557. 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 business’s 50-day simple moving average is $219.83 and its 200-day simple moving average is $216.55. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $341.75. The company has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently modified their holdings of the stock. Banco Santander S.A. raised its holdings in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares during the period. Global Retirement Partners LLC increased its stake in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC increased its position in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global in the second quarter valued at about $2,908,000. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on COIN shares. 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 on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday. 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 stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $255.22.

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.