Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $3,968,800.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,379.44. This represents a 97.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, April 14th, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The shares were sold at an average price of $178.79, for a total value of $2,681,850.00.
• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00.
• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00.
• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $209.64 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $53.22 billion, a price-to-earnings ratio of 22.07 and a beta of 3.65. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company’s 50-day simple moving average is $191.91 and its 200-day simple moving average is $242.87.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research reports. JMP Securities decreased their price target on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Piper Sandler upped their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Rosenblatt Securities dropped their price objective on shares of Coinbase Global from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $295.65.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth about $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the fourth quarter worth about $26,000. Bessemer Group Inc. lifted its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $27,000. Finally, Atala Financial Inc bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. 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.