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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.
• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00.
• 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 transaction 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 transaction 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

NASDAQ:COIN opened at $274.90 on Thursday. The firm has a market capitalization of $68.82 billion, a PE ratio of 46.91 and a beta of 3.61. The stock’s fifty day moving average is $282.81 and its 200 day moving average is $237.46. Coinbase Global, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. HC Wainwright increased their price objective on shares of Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global during the 4th quarter valued at about $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $25,000. Finally, ORG Wealth Partners LLC purchased a new position in Coinbase Global during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.