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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 58,269 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

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

Coinbase Global Stock Down 1.1 %

COIN stock traded down $3.44 during mid-day trading on Wednesday, reaching $321.13. The company had a trading volume of 20,805,063 shares, compared to its average volume of 11,095,814. 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 company has a market capitalization of $80.39 billion, a price-to-earnings ratio of 55.14 and a beta of 3.34. The firm has a fifty day simple moving average of $205.45 and a 200 day simple moving average of $213.30. Coinbase Global, Inc. has a fifty-two week low of $101.34 and a fifty-two week 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 for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted ($0.01) EPS. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global during the third quarter worth $25,000. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter worth $29,000. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter worth $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on COIN. Needham & Company LLC raised their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $251.00.

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.