Coinbase Global (NASDAQ:COIN) CEO Brian Armstrong Sells 40,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $257.31, for a total transaction of $10,292,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, December 8th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The stock was sold at an average price of $273.86, for a total transaction of $10,954,400.00.
• On Monday, November 17th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The stock was sold at an average price of $271.87, for a total transaction of $10,874,800.00.
• On Monday, November 17th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00.
• On Monday, November 10th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $320.67, for a total value of $8,016,750.00.
• On Monday, November 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00.
• On Monday, October 13th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $361.32, for a total value of $9,033,000.00.
• On Thursday, October 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00.
• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded down $2.27 during mid-day trading on Wednesday, hitting $275.09. 6,691,356 shares of the stock were exchanged, compared to its average volume of 10,846,976. The company has a 50-day simple moving average of $312.73 and a 200 day simple moving average of $318.87. The company has a market capitalization of $74.18 billion, a P/E ratio of 23.80 and a beta of 3.69. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. UBS Group set a $404.00 price target on Coinbase Global in a research report on Friday, October 24th. China Renaissance boosted their price target on shares of Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. Benchmark reissued a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Finally, Argus restated a “hold” rating on shares of Coinbase Global in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $396.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC bought a new stake in shares of Coinbase Global in the third quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd grew its holdings in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares during the period. Palisade Asset Management LLC purchased a new stake in Coinbase Global in the third quarter worth about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the second quarter worth about $30,000. Finally, Salomon & Ludwin LLC lifted its holdings in Coinbase Global by 4,400.0% during the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.