Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 23,075 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, July 11th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $159.70 on Friday. The stock’s 50-day simple moving average is $212.46 and its 200-day simple moving average is $223.79. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 31.88 and a beta of 3.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. As a group, analysts expect that Coinbase Global, Inc. will post 4.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in COIN. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Norges Bank bought a new stake in Coinbase Global during the fourth quarter worth approximately $202,936,000. Renaissance Technologies LLC increased its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Hamilton Lane Advisors LLC bought a new stake in Coinbase Global during the fourth quarter worth approximately $88,015,000. Finally, Canada Pension Plan Investment Board increased its stake in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $206.00 to $169.00 in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, HC Wainwright reduced their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $246.06.

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.