Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 25,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $260.01 on Friday. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a market cap of $65.09 billion, a PE ratio of 44.37 and a beta of 3.59. The stock has a 50 day simple moving average of $285.74 and a 200-day simple moving average of $229.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue was up 78.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Oppenheimer boosted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Needham & Company LLC boosted their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Coinbase Global has an average rating of “Hold” and an average target price of $288.44.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Principal Financial Group Inc. lifted its stake in shares of Coinbase Global by 15.6% in the 2nd quarter. Principal Financial Group Inc. now owns 16,805 shares of the cryptocurrency exchange’s stock worth $3,735,000 after acquiring an additional 2,264 shares during the period. Victory Capital Management Inc. boosted its stake in Coinbase Global by 23.7% during the 2nd quarter. Victory Capital Management Inc. now owns 60,761 shares of the cryptocurrency exchange’s stock valued at $13,503,000 after purchasing an additional 11,627 shares in the last quarter. Candriam S.C.A. increased its position in shares of Coinbase Global by 9.8% during the 2nd quarter. Candriam S.C.A. now owns 10,506 shares of the cryptocurrency exchange’s stock valued at $2,335,000 after purchasing an additional 938 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Coinbase Global by 24.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock worth $306,000 after buying an additional 268 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Coinbase Global in the second quarter valued at $116,000. 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.