Brian Armstrong Sells 10,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00.
• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total value 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 value of $6,526,750.00.

Coinbase Global Stock Down 2.8 %

Shares of NASDAQ COIN opened at $188.58 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 19.85 and a beta of 3.66. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm’s 50-day simple moving average is $241.79 and its 200 day simple moving average is $241.51.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.72.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after acquiring an additional 302,595 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global during the 4th quarter worth about $25,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Coinbase Global during the 4th quarter valued at about $15,578,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. Finally, IronOak Wealth LLC. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $765,000. 68.84% of the stock is currently owned by institutional investors.

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.