Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $3,968,800.00 in Stock

by · The Cerbat Gem

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,379.44. This represents a 97.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, April 14th, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $178.79, for a total transaction of $2,681,850.00.
  • On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00.
  • On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00.
  • On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00.
  • On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Price Performance

Shares of COIN opened at $209.64 on Monday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The business has a 50-day simple moving average of $191.91 and a two-hundred day simple moving average of $243.42. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $53.22 billion, a PE ratio of 22.07 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter worth approximately $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the fourth quarter worth approximately $26,000. Bessemer Group Inc. boosted its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Finally, Atala Financial Inc bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on COIN. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Canaccord Genuity Group upped their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.65.

Check Out Our Latest Report on Coinbase Global

About Coinbase Global

(Get Free Report)

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.

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