Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 10,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. This trade represents a 95.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were 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 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 transaction of $6,526,750.00.

Coinbase Global Price Performance

COIN stock traded down $10.28 during mid-day trading on Wednesday, hitting $193.95. The stock had a trading volume of 6,985,304 shares, compared to its average volume of 9,623,827. The firm has a fifty day simple moving average of $245.27 and a 200 day simple moving average of $242.22. The firm has a market capitalization of $49.24 billion, a P/E ratio of 20.42 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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 return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America decreased their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

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.