Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $2,527,950.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00.
• On Tuesday, February 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00.
• On Monday, February 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00.

Coinbase Global Stock Down 4.2 %

Shares of NASDAQ:COIN opened at $169.62 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $212.12 and a two-hundred day moving average of $241.90. The stock has a market cap of $43.06 billion, a P/E ratio of 17.85 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Institutional Trading of Coinbase Global

Institutional investors have recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COIN. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 price target on shares of Coinbase Global in a research note on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $298.74.

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.