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 the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $142,540.74. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was 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 value of $19,112,232.00.

Coinbase Global Stock Performance

NASDAQ COIN traded down $5.25 during trading on Wednesday, reaching $275.14. The company’s stock had a trading volume of 5,333,724 shares, compared to its average volume of 8,088,942. The firm has a market cap of $68.88 billion, a price-to-earnings ratio of 46.95 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The business’s fifty day moving average price is $287.18 and its 200-day moving average price is $236.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COIN. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price target for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. 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 note on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the third quarter valued at $32,000. MassMutual Private Wealth & Trust FSB increased its position 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 purchasing an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the last quarter. 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.