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 Coinbase Global stock in a transaction dated Monday, November 25th. The shares were 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 owns 526 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75.

Coinbase Global Price Performance

Coinbase Global stock opened at $310.98 on Thursday. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $219.83 and a 200 day simple moving average of $216.55. The company has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several analyst reports. Mizuho lifted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective on the stock. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Finally, Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.22.

Institutional Trading of Coinbase Global

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