Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,526,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 transaction of $19,112,232.00.

Coinbase Global Price Performance

COIN opened at $260.01 on Friday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year 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. The company’s 50 day simple moving average is $285.74 and its 200 day simple moving average is $229.23. The stock has a market capitalization of $65.09 billion, a PE ratio of 44.37 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the third quarter worth approximately $32,000. Abich Financial Wealth Management LLC increased its position in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after acquiring an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Coinbase Global by 233.7% during the 2nd quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock valued at $66,000 after acquiring an additional 208 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COIN has been the topic of several research analyst reports. Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Barclays lifted their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $288.44.

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.