Brian Armstrong Sells 14,866 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 14,866 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $42.00, for a total value of $624,372.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Friday, November 11th, Brian Armstrong sold 29,732 shares of Coinbase Global stock. The stock was sold at an average price of $54.66, for a total value of $1,625,151.12.

Coinbase Global Stock Performance

NASDAQ COIN opened at $45.57 on Friday. Coinbase Global, Inc. has a 1-year low of $40.61 and a 1-year high of $331.70. The company has a market capitalization of $10.34 billion, a P/E ratio of -7.51 and a beta of 2.50. The business has a 50 day moving average price of $62.64 and a 200 day moving average price of $65.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.20). The firm had revenue of $590.34 million during the quarter, compared to analysts’ expectations of $642.76 million. Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. Sell-side analysts expect that Coinbase Global, Inc. will post -11.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently bought and sold shares of COIN. Signaturefd LLC increased its position in Coinbase Global by 13.2% during the first quarter. Signaturefd LLC now owns 868 shares of the cryptocurrency exchange’s stock worth $165,000 after buying an additional 101 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Coinbase Global by 17.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 3,452 shares of the cryptocurrency exchange’s stock worth $655,000 after buying an additional 509 shares in the last quarter. DAVENPORT & Co LLC increased its position in Coinbase Global by 14.5% during the first quarter. DAVENPORT & Co LLC now owns 1,186 shares of the cryptocurrency exchange’s stock worth $225,000 after buying an additional 150 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Coinbase Global by 8.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 25,071 shares of the cryptocurrency exchange’s stock worth $4,760,000 after buying an additional 1,892 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Coinbase Global by 15.3% during the first quarter. International Assets Investment Management LLC now owns 1,352 shares of the cryptocurrency exchange’s stock worth $257,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 49.31% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Daiwa Capital Markets downgraded Coinbase Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $82.00 to $52.00 in a report on Wednesday, November 9th. Citigroup cut their price target on Coinbase Global from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. JMP Securities cut their price target on Coinbase Global from $195.00 to $155.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 11th. Keefe, Bruyette & Woods cut Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research report on Wednesday, August 10th. Finally, Compass Point lowered their price objective on Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $89.17.

Coinbase Global Company Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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