Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 23,075 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $117,892.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, April 15th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $238.26, for a total transaction of $5,497,849.50.
• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was 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 stock was sold at an average price of $147.03, for a total value of $3,392,717.25.

Coinbase Global Price Performance

COIN traded down $12.59 on Tuesday, reaching $214.34. 7,904,884 shares of the company’s stock were exchanged, compared to its average volume of 13,230,334. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $51.93 billion, a PE ratio of 44.19 and a beta of 3.46. The stock’s fifty day moving average price is $237.03 and its 200-day moving average price is $168.14.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of COIN. Sei Investments Co. grew its holdings in shares of Coinbase Global by 41.7% during the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after purchasing an additional 2,920 shares during the period. Forsta AP Fonden lifted its holdings in shares of Coinbase Global by 12.7% in the 1st quarter. Forsta AP Fonden now owns 35,400 shares of the cryptocurrency exchange’s stock worth $9,385,000 after acquiring an additional 4,000 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Coinbase Global in the 1st quarter worth approximately $1,241,000. Allen Operations LLC acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $209,000. Finally, Allen Investment Management LLC raised its position in Coinbase Global by 0.3% in the first quarter. Allen Investment Management LLC now owns 317,985 shares of the cryptocurrency exchange’s stock valued at $84,304,000 after purchasing an additional 990 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on COIN shares. HC Wainwright lifted their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Wedbush boosted their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Sanford C. Bernstein boosted their price target on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, Oppenheimer raised their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $193.85.

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.