Brian Armstrong Sells 23,075 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $125,324.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $129.07, for a total value of $2,978,290.25.

Coinbase Global Trading Up 2.0 %

Shares of COIN stock opened at $218.08 on Friday. The stock’s fifty day moving average price is $223.31 and its two-hundred day moving average price is $154.63. The company has a market cap of $52.83 billion, a PE ratio of 807.70 and a beta of 3.41. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company’s revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the business posted ($2.46) EPS. Equities analysts predict that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on COIN. HC Wainwright upped their price objective on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Citigroup increased their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Oppenheimer increased their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Bank of America increased their target price on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.43.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Coinbase Global during the 1st quarter valued at $699,000. CAP Partners LLC raised its position in Coinbase Global by 5.3% during the 1st quarter. CAP Partners LLC now owns 5,382 shares of the cryptocurrency exchange’s stock worth $1,427,000 after purchasing an additional 273 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Coinbase Global by 9.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,095 shares of the cryptocurrency exchange’s stock worth $1,881,000 after purchasing an additional 591 shares during the last quarter. Pettinga Financial Advisors LLC bought a new position in Coinbase Global during the 1st quarter worth $337,000. Finally, Fiduciary Alliance LLC bought a new position in Coinbase Global during the 1st quarter worth $1,036,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.