Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,881,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $144,786.76. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 transaction 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.
• 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 transaction of $7,682,500.00.
• 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 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.

Coinbase Global Stock Up 3.0 %

Shares of COIN stock traded up $8.00 on Wednesday, reaching $274.90. 6,239,527 shares of the stock were exchanged, compared to its average volume of 7,833,966. The company has a market capitalization of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.61. The business’s 50 day moving average price is $283.93 and its 200 day moving average price is $237.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $137.13 and a twelve month high of $349.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COIN. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and increased their target price for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Piper Sandler increased their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Oppenheimer dropped their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC dropped their target price on Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $286.00.

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.