Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 18,500 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 18,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $96.38, for a total value of $1,783,030.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Coinbase Global Trading Up 7.1 %

Shares of NASDAQ:COIN opened at $106.10 on Tuesday. Coinbase Global, Inc. has a 12-month low of $31.55 and a 12-month high of $114.43. The company has a market capitalization of $25.38 billion, a PE ratio of -32.85 and a beta of 2.65. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $80.44 and its 200-day simple moving average is $76.38.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COIN. JMP Securities restated a “market outperform” rating and issued a $107.00 price target on shares of Coinbase Global in a research note on Thursday, August 17th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Coinbase Global in a research note on Thursday, August 17th. HC Wainwright lifted their price objective on shares of Coinbase Global from $77.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Canaccord Genuity Group upped their target price on Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, The Goldman Sachs Group lifted their price target on Coinbase Global from $45.00 to $51.00 and gave the company a “sell” rating in a research note on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $75.64.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Coinbase Global by 19.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock valued at $824,587,000 after acquiring an additional 2,110,196 shares during the last quarter. ARK Investment Management LLC grew its position in Coinbase Global by 2.9% during the 2nd quarter. ARK Investment Management LLC now owns 12,121,881 shares of the cryptocurrency exchange’s stock worth $867,321,000 after purchasing an additional 345,866 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Coinbase Global by 117,449.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,320,018 shares of the cryptocurrency exchange’s stock valued at $809,947,000 after buying an additional 11,310,388 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Coinbase Global by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,166,044 shares of the cryptocurrency exchange’s stock valued at $655,830,000 after buying an additional 555,099 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its stake in shares of Coinbase Global by 18.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 8,298,784 shares of the cryptocurrency exchange’s stock worth $548,550,000 after buying an additional 1,298,374 shares during the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.