Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 25,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $338.29, for a total transaction of $8,457,250.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at $177,940.54. The trade was a 97.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, June 26th, Brian Armstrong sold 113,735 shares of Coinbase Global stock. The stock was sold at an average price of $363.15, for a total transaction of $41,302,865.25.
• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65.
• On Wednesday, June 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $255.34, for a total transaction of $6,383,500.00.
• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $247.15, for a total transaction of $6,178,750.00.
• On Monday, May 5th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $200.54, for a total transaction of $5,013,500.00.
• On Wednesday, April 23rd, Brian Armstrong sold 20,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00.
• On Monday, April 14th, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The shares were sold at an average price of $178.79, for a total transaction of $2,681,850.00.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $355.58 on Friday. The company’s 50-day moving average price is $265.23 and its 200-day moving average price is $242.97. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The company has a market cap of $90.27 billion, a P/E ratio of 66.59, a P/E/G ratio of 26.02 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $382.00.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the fourth quarter worth about $26,000. Bessemer Group Inc. increased its position in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the last quarter. Atala Financial Inc acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global during the first quarter worth about $30,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. William Blair initiated coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an “outperform” rating on the stock. Piper Sandler raised their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Oppenheimer restated an “outperform” rating and set a $395.00 price target (up previously from $293.00) on shares of Coinbase Global in a research report on Thursday, June 26th. Citigroup restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, June 25th. Finally, Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target on the stock in a research report on Monday, May 12th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $291.06.

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.