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 firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, July 11th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $3.52 during midday trading on Thursday, reaching $159.70. 5,719,761 shares of the stock traded hands, compared to its average volume of 10,709,039. The company’s 50 day moving average is $213.74 and its 200 day moving average is $224.24. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $39.22 billion, a PE ratio of 32.38 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business earned ($0.42) EPS. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Truist Financial Corp bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $2,890,000. Russell Investments Group Ltd. lifted its position in Coinbase Global by 10.4% in the fourth quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock worth $3,142,000 after buying an additional 1,685 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Coinbase Global by 50.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,229 shares of the cryptocurrency exchange’s stock worth $213,000 after buying an additional 410 shares during the last quarter. Merit Financial Group LLC purchased a new position in Coinbase Global during the fourth quarter worth $368,000. Finally, Wealthcare Advisory Partners LLC bought a new position in Coinbase Global during the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Bank of America decreased their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright reduced their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $248.38.

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.