Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,526,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 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 transaction of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00.

Coinbase Global Trading Down 8.1 %

Shares of NASDAQ COIN traded down $23.43 during trading on Tuesday, reaching $264.33. The stock had a trading volume of 11,580,368 shares, compared to its average volume of 8,672,818. The company has a market cap of $66.18 billion, a P/E ratio of 45.11 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business's 50-day moving average price is $283.16 and its 200-day moving average price is $228.80. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm's revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities research analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Empowered Funds LLC lifted its position in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock worth $924,000 after buying an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock worth $106,000 after acquiring an additional 51 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange's stock worth $446,000 after purchasing an additional 61 shares in the last quarter. Brooklyn Investment Group increased its holdings in Coinbase Global by 3.9% during the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange's stock valued at $314,000 after acquiring an additional 66 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange's stock valued at $353,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $165.00 to $275.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their price target on Coinbase Global from $183.00 to $397.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price objective on the stock. Finally, Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $288.44.

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.