Brian Armstrong Sells 113,735 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 113,735 shares of the business’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $363.15, for a total value of $41,302,865.25. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $191,016.90. The trade was a 99.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65.
• On Wednesday, June 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $255.34, for a total value of $6,383,500.00.
• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $247.15, for a total value of $6,178,750.00.
• On Monday, May 5th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $200.54, for a total value of $5,013,500.00.
• On Wednesday, April 23rd, Brian Armstrong sold 20,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.44, for a total value of $3,968,800.00.
• On Monday, April 14th, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The shares were sold at an average price of $178.79, for a total value of $2,681,850.00.
• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00.

Coinbase Global Stock Performance

Shares of COIN opened at $353.43 on Friday. The business’s fifty day simple moving average is $249.67 and its two-hundred day simple moving average is $241.43. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00. The company has a market cap of $89.73 billion, a price-to-earnings ratio of 66.19, a P/E/G ratio of 25.85 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $395.00 price objective (up from $293.00) on shares of Coinbase Global in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of Coinbase Global in a research note on Wednesday. Piper Sandler boosted their price objective on Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Barclays boosted their price objective on Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $291.06.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the period. Geode Capital Management LLC raised its holdings in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares during the period. ARK Investment Management LLC raised its holdings in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after acquiring an additional 34,462 shares during the period. Groupama Asset Managment raised its holdings in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the period. Finally, Norges Bank bought a new stake in Coinbase Global during the fourth quarter valued at about $536,484,000. 68.84% of the stock is owned by institutional investors.

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.