Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 23,075 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $238.26, for a total transaction of $5,497,849.50. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $125,324.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $256.30, for a total transaction of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $129.07, for a total transaction of $2,978,290.25.

Coinbase Global Stock Performance

Coinbase Global stock opened at $218.08 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $223.31 and a 200-day moving average of $154.63. The firm has a market cap of $52.83 billion, a P/E ratio of 807.70 and a beta of 3.41. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the business posted ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. Sell-side analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates raised its stake in Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after buying an additional 9,564 shares in the last quarter. Mariner LLC raised its stake in Coinbase Global by 5.4% in the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after buying an additional 4,259 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Coinbase Global by 10.0% in the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after buying an additional 125 shares in the last quarter. Oak Thistle LLC bought a new position in Coinbase Global in the fourth quarter worth about $1,035,000. Finally, Barclays PLC raised its stake in Coinbase Global by 41.5% in the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after buying an additional 118,670 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler upped their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Wedbush upped their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Citigroup upped their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Needham & Company LLC upped their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Finally, JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $165.43.

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.