Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 58,269 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 3rd, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75.

Coinbase Global Stock Down 1.1 %

COIN stock traded down $3.44 during trading hours on Wednesday, reaching $321.13. 20,805,063 shares of the stock were exchanged, compared to its average volume of 11,095,814. The firm’s 50-day moving average is $205.45 and its 200-day moving average is $213.30. The company has a market cap of $80.39 billion, a price-to-earnings ratio of 55.14 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 12 month low of $101.34 and a 12 month high of $341.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of COIN. Virtu Financial LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $3,866,000. TD Private Client Wealth LLC acquired a new position in shares of Coinbase Global during the third quarter valued at about $77,000. Sunbelt Securities Inc. raised its holdings in shares of Coinbase Global by 25.9% during the third quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock valued at $124,000 after purchasing an additional 143 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Coinbase Global by 17.0% during the third quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock valued at $517,000 after purchasing an additional 402 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target on the stock. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $251.00.

Coinbase Global Company Profile

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.