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 the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $224.13, for a total value of $5,171,799.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $117,892.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, April 15th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $238.26, for a total transaction of $5,497,849.50.
• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $256.30, for a total transaction of $5,914,122.50.
• 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 transaction of $3,392,717.25.

Coinbase Global Trading Down 1.5 %

NASDAQ:COIN opened at $211.20 on Thursday. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $237.33 and a 200-day moving average price of $169.13. The stock has a market cap of $51.17 billion, a price-to-earnings ratio of 42.16 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted 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. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the firm posted ($2.46) EPS. The business’s revenue was up 51.6% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners increased its position in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Mather Group LLC. purchased a new position in Coinbase Global during the first quarter valued at $32,000. Barrett & Company Inc. bought a new stake in Coinbase Global in the fourth quarter worth $26,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COIN shares. HC Wainwright raised their price objective on Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th. Wedbush boosted their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Sanford C. Bernstein increased their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $200.63.

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.