Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 25,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $255.34, for a total transaction of $6,383,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $134,308.84. The trade was a 97.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $247.15, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00.

Coinbase Global Stock Up 0.7%

Shares of COIN stock opened at $242.71 on Friday. 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 1 year low of $142.58 and a 1 year high of $349.75. The firm’s fifty day moving average price is $221.16 and its two-hundred day moving average price is $241.85. The firm has a market capitalization of $61.62 billion, a P/E ratio of 25.55 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $260.00 price objective (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, May 9th. Citigroup reaffirmed a “neutral” rating on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, Mizuho reduced their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after purchasing an additional 127,075 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after purchasing an additional 34,462 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Coinbase Global during the 4th quarter worth about $536,484,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.