Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $5,497,849.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $125,324.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $129.07, for a total value of $2,978,290.25.

Coinbase Global Stock Performance

COIN opened at $211.01 on Friday. The stock has a market cap of $51.12 billion, a P/E ratio of 781.52 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $224.69 and its 200 day simple moving average is $155.57. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the prior year, the company earned ($2.46) EPS. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new stake in Coinbase Global in the 1st quarter valued at approximately $32,000. Barrett & Company Inc. purchased a new stake in Coinbase Global in the 4th quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new stake in Coinbase Global in the 4th quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in shares of Coinbase Global during the 1st quarter worth $43,000. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Needham & Company LLC boosted their target price on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, Piper Sandler boosted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $165.43.

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.