Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 58,053 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 58,053 shares of the company’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $50.06, for a total value of $2,906,133.18. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Tuesday, January 17th, Brian Armstrong sold 31,143 shares of Coinbase Global stock. The stock was sold at an average price of $52.81, for a total value of $1,644,661.83.
  • On Wednesday, January 4th, Brian Armstrong sold 14,866 shares of Coinbase Global stock. The shares were sold at an average price of $36.84, for a total value of $547,663.44.
  • On Tuesday, December 20th, Brian Armstrong sold 14,866 shares of Coinbase Global stock. The shares were sold at an average price of $35.31, for a total value of $524,918.46.
  • On Monday, December 5th, Brian Armstrong sold 14,866 shares of Coinbase Global stock. The shares were sold at an average price of $46.86, for a total value of $696,620.76.
  • On Monday, November 21st, Brian Armstrong sold 14,866 shares of Coinbase Global stock. The shares were sold at an average price of $42.00, for a total value of $624,372.00.
  • On Friday, November 11th, Brian Armstrong sold 29,732 shares of Coinbase Global stock. The shares were sold at an average price of $54.66, for a total value of $1,625,151.12.

Coinbase Global Trading Down 1.6 %

Shares of Coinbase Global stock opened at $49.42 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. Coinbase Global, Inc. has a 52 week low of $31.55 and a 52 week high of $232.00. The stock has a 50 day moving average price of $42.17 and a two-hundred day moving average price of $59.27. The stock has a market capitalization of $11.22 billion, a PE ratio of -8.14 and a beta of 2.16.

Coinbase Global (NASDAQ:COINGet Rating) last posted its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. The company had revenue of $590.34 million during the quarter, compared to the consensus estimate of $642.76 million. As a group, equities analysts anticipate that Coinbase Global, Inc. will post -11.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America downgraded Coinbase Global from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $50.00 to $35.00 in a research report on Wednesday, January 11th. JMP Securities decreased their price target on Coinbase Global from $155.00 to $80.00 and set a “market outperform” rating for the company in a research note on Monday, January 9th. Cowen cut Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a research note on Thursday, January 5th. Wedbush decreased their price target on Coinbase Global from $100.00 to $75.00 in a research note on Friday, November 4th. Finally, Daiwa Capital Markets cut Coinbase Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $52.00 in a research note on Wednesday, November 9th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.29.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COIN. Tradewinds Capital Management LLC lifted its holdings in shares of Coinbase Global by 1,210.0% in the second quarter. Tradewinds Capital Management LLC now owns 524 shares of the cryptocurrency exchange’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. BDO Wealth Advisors LLC lifted its holdings in shares of Coinbase Global by 133.5% in the third quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock valued at $25,000 after purchasing an additional 223 shares in the last quarter. Ellevest Inc. bought a new position in shares of Coinbase Global in the third quarter valued at approximately $26,000. Oakworth Capital Inc. bought a new stake in Coinbase Global during the second quarter worth $29,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Coinbase Global during the second quarter worth $29,000. Institutional investors own 46.41% of the company’s stock.

About Coinbase Global

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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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