Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $6,774,750.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00.

Coinbase Global Trading Down 1.9 %

Shares of COIN stock opened at $275.14 on Thursday. The stock has a 50-day moving average of $286.47 and a 200-day moving average of $236.59. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The stock has a market cap of $68.88 billion, a price-to-earnings ratio of 46.95 and a beta of 3.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Institutional Trading of Coinbase Global

Several hedge funds have recently added to or reduced their stakes in the stock. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the third quarter worth about $409,919,000. Proficio Capital Partners LLC grew its position in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC lifted 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 in the last quarter. Azora Capital LP grew its stake in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. Finally, Holocene Advisors LP bought a new stake in Coinbase Global during the 3rd quarter worth approximately $38,535,000. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of a number of analyst reports. Oppenheimer dropped their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Finally, Needham & Company LLC upped their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

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.