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 firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $117,892.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, April 15th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50.
• 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 transaction of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25.

Coinbase Global Trading Down 1.5 %

Shares of COIN opened at $211.20 on Thursday. The stock’s fifty day simple moving average is $237.33 and its 200-day simple moving average is $169.13. The firm has a market capitalization of $51.17 billion, a PE ratio of 42.16 and a beta of 3.46. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Friday, May 3rd. Needham & Company LLC decreased their price target on Coinbase Global from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Barclays upped their price target on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday. The Goldman Sachs Group cut their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average target price of $200.63.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently bought and sold shares of COIN. Fountainhead AM LLC lifted its position in shares of Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after buying an additional 81 shares during the last quarter. Nilsine Partners LLC lifted its position in Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after buying an additional 81 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. 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.