Brian Armstrong Sells 25,000 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $322.28, for a total value of $8,057,000.00.
• On Thursday, September 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $302.19, for a total value of $7,554,750.00.
• On Tuesday, August 12th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $326.71, for a total value of $8,167,750.00.
• On Monday, August 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $317.09, for a total value of $7,927,250.00.
• On Wednesday, July 16th, Brian Armstrong sold 198,300 shares of Coinbase Global stock. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00.
• On Tuesday, July 15th, Brian Armstrong sold 183,506 shares of Coinbase Global stock. The shares were sold at an average price of $397.17, for a total value of $72,883,078.02.
• On Monday, July 14th, Brian Armstrong sold 165,443 shares of Coinbase Global stock. The stock was sold at an average price of $395.82, for a total value of $65,485,648.26.
• On Friday, July 11th, Brian Armstrong sold 27,751 shares of Coinbase Global stock. The stock was sold at an average price of $389.05, for a total value of $10,796,526.55.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $375.78 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock’s 50 day moving average is $323.84 and its 200-day moving average is $284.12. The firm has a market capitalization of $96.55 billion, a price-to-earnings ratio of 36.34 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently made changes to their positions in COIN. Cadent Capital Advisors LLC boosted its position in shares of Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after purchasing an additional 30 shares in the last quarter. Ameriflex Group Inc. raised its stake in shares of Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after purchasing an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC raised its stake in shares of Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after purchasing an additional 34 shares during the last quarter. StoneX Group Inc. raised its stake in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock worth $690,000 after purchasing an additional 34 shares during the last quarter. Finally, Evelyn Partners Investment Management Europe Ltd raised its stake in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Citigroup increased their price objective on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Coinbase Global in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.27.

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.