Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 25,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $161,639.80. This trade represents a 97.94 % 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 Monday, November 25th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00.
• On Monday, November 18th, Brian Armstrong sold 58,269 shares of Coinbase Global stock. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00.

Coinbase Global Trading Down 3.1 %

NASDAQ:COIN opened at $320.57 on Friday. The stock has a market cap of $80.25 billion, a price-to-earnings ratio of 54.70 and a beta of 3.57. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day simple moving average is $236.84 and its 200 day simple moving average is $220.85.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. Oppenheimer raised their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $265.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $25,000. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Coinbase Global during the 3rd quarter worth approximately $32,000. Spirit of America Management Corp NY acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $33,000. Finally, Continuum Advisory LLC increased its holdings in shares of Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.