Coinbase Global (NASDAQ:COIN) CEO Sells $10,954,400.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $273.86, for a total transaction of $10,954,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 26th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The shares were sold at an average price of $257.31, for a total value of $10,292,400.00.
• On Monday, November 17th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00.
• On Monday, November 17th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00.
• On Monday, November 10th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $320.67, for a total value of $8,016,750.00.
• On Monday, November 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $337.49, for a total value of $8,437,250.00.
• On Monday, October 13th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00.
• On Thursday, October 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00.
• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00.

Coinbase Global Stock Performance

COIN stock opened at $267.46 on Friday. The firm has a 50 day moving average of $306.99 and a two-hundred day moving average of $318.25. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market capitalization of $72.12 billion, a price-to-earnings ratio of 23.14 and a beta of 3.69. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 672.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after buying an additional 1,015 shares during the last quarter. SP Asset Management LLC acquired a new position in Coinbase Global during the second quarter worth $360,000. Kera Capital Partners Inc. raised its position in Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after acquiring an additional 1,085 shares in the last quarter. Parallel Advisors LLC lifted its stake in Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after acquiring an additional 5,402 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in shares of Coinbase Global by 890.8% in the 2nd quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock valued at $11,033,000 after acquiring an additional 28,302 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Cantor Fitzgerald decreased their target price on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. President Capital lifted their price target on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. Finally, Rothschild & Co Redburn reduced their price objective on shares of Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a research note on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $394.67.

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.