Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $5,497,849.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $238.26, for a total transaction of $5,497,849.50. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $125,324.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, April 4th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $256.30, for a total transaction of $5,914,122.50.
• On Monday, February 12th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $147.03, for a total transaction of $3,392,717.25.
• On Thursday, February 1st, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The stock was sold at an average price of $129.07, for a total transaction of $2,978,290.25.

Coinbase Global Stock Down 2.3 %

Shares of COIN traded down $5.05 during mid-day trading on Wednesday, hitting $213.78. 9,423,899 shares of the company’s stock were exchanged, compared to its average volume of 14,044,888. The company has a market cap of $51.79 billion, a PE ratio of 786.41 and a beta of 3.41. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a 50-day simple moving average of $219.76 and a 200 day simple moving average of $153.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period last year, the business earned ($2.46) earnings per share. The firm’s revenue was up 51.6% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Mather Group LLC. bought a new stake in Coinbase Global during the first quarter worth about $32,000. Barrett & Company Inc. bought a new stake in Coinbase Global during the fourth quarter worth about $26,000. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $27,000. Riverview Trust Co bought a new position in shares of Coinbase Global in the first quarter worth about $43,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COIN. HC Wainwright boosted their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Bank of America boosted their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Needham & Company LLC boosted their target price on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 8th. Finally, Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $163.70.

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.