Brian Armstrong Sells 23,075 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $256.30, for a total value of $5,914,122.50. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $134,813.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $129.07, for a total value of $2,978,290.25.
• On Thursday, January 11th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $146.14, for a total value of $3,372,180.50.

Coinbase Global Trading Down 5.5 %

Shares of Coinbase Global stock opened at $242.95 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $58.86 billion, a price-to-earnings ratio of 899.81 and a beta of 3.41. The business has a fifty day simple moving average of $208.19 and a 200-day simple moving average of $147.86. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. On average, equities analysts forecast that Coinbase Global, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on COIN shares. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price target on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $154.15.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently modified their holdings of COIN. Vanguard Group Inc. raised its position in shares of Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after purchasing an additional 2,110,196 shares during the period. Norges Bank acquired a new stake in shares of Coinbase Global during the fourth quarter worth $50,254,000. Quadrature Capital Ltd acquired a new stake in shares of Coinbase Global during the second quarter worth $93,815,000. Price T Rowe Associates Inc. MD raised its position in shares of Coinbase Global by 741.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,342,039 shares of the cryptocurrency exchange’s stock worth $233,408,000 after purchasing an additional 1,182,556 shares during the period. Finally, a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $147,646,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.