Coinbase Global (NASDAQ:COIN) CEO Sells $8,886,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00.
• On Thursday, September 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $302.19, for a total transaction of $7,554,750.00.
• On Tuesday, August 12th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $326.71, for a total transaction of $8,167,750.00.
• On Monday, August 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $317.09, for a total transaction of $7,927,250.00.
• On Wednesday, July 16th, Brian Armstrong sold 198,300 shares of Coinbase Global stock. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00.
• On Tuesday, July 15th, Brian Armstrong sold 183,506 shares of Coinbase Global stock. The shares were sold at an average price of $397.17, for a total transaction of $72,883,078.02.
• On Monday, July 14th, Brian Armstrong sold 165,443 shares of Coinbase Global stock. The shares were sold at an average price of $395.82, for a total transaction of $65,485,648.26.
• On Friday, July 11th, Brian Armstrong sold 27,751 shares of Coinbase Global stock. The shares were sold at an average price of $389.05, for a total transaction of $10,796,526.55.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $387.27 on Thursday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $99.51 billion, a price-to-earnings ratio of 37.45 and a beta of 3.68. The firm has a 50-day moving average of $324.03 and a two-hundred day moving average of $284.83.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.14 earnings per share. Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Evelyn Partners Investment Management Europe Ltd boosted its position in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global in the second quarter valued at approximately $30,000. City State Bank bought a new stake in shares of Coinbase Global in the second quarter valued at approximately $33,000. Financial Gravity Companies Inc. bought a new stake in shares of Coinbase Global in the second quarter valued at approximately $34,000. Finally, Fourth Dimension Wealth LLC boosted its position in shares of Coinbase Global by 300.0% in the second quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock valued at $35,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on COIN shares. China Renaissance began coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They set a “buy” rating and a $353.30 price objective for the company. Keefe, Bruyette & Woods dropped their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Benchmark upped their target price on Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a report on Monday, June 23rd. BTIG Research began coverage on Coinbase Global in a report on Wednesday, October 1st. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Redburn Partners set a $417.00 price objective on Coinbase Global in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $367.12.

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.