Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 25,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $144,786.76. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00.
• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• 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 value of $19,112,232.00.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $298.11 on Friday. The firm has a 50-day simple moving average of $282.36 and a 200-day simple moving average of $237.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $74.63 billion, a price-to-earnings ratio of 50.87 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. On average, equities analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL grew its holdings in Coinbase Global by 1,280.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,035 shares of the cryptocurrency exchange’s stock valued at $257,000 after buying an additional 960 shares in the last quarter. MSH Capital Advisors LLC acquired a new stake in Coinbase Global during the fourth quarter worth about $588,000. Zacks Investment Management grew its stake in shares of Coinbase Global by 26.4% in the 4th quarter. Zacks Investment Management now owns 14,550 shares of the cryptocurrency exchange’s stock valued at $3,613,000 after buying an additional 3,039 shares during the period. NewEdge Advisors LLC grew its position in Coinbase Global by 42.6% in the fourth quarter. NewEdge Advisors LLC now owns 9,216 shares of the cryptocurrency exchange’s stock worth $2,288,000 after acquiring an additional 2,752 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake in Coinbase Global by 3.8% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,531 shares of the cryptocurrency exchange’s stock worth $628,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.00.

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.