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 stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $161,639.80. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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.
• On Tuesday, September 3rd, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75.

Coinbase Global Price Performance

NASDAQ:COIN opened at $310.98 on Friday. The company has a 50 day moving average price of $222.79 and a 200-day moving average price of $217.21. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $341.75. The firm has a market cap of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted ($0.01) EPS. The company’s revenue was up 78.8% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Institutional Trading of Coinbase Global

Several institutional investors have recently bought and sold shares of COIN. Banco Santander S.A. lifted its position in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares in the last quarter. Global Retirement Partners LLC raised its position in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global during the third quarter valued at $29,756,000. Lindbrook Capital LLC grew its position in shares of Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global during the second quarter worth about $2,908,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the subject of several analyst reports. Oppenheimer increased their price objective on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday. Mizuho increased their price target on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.22.

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.