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 firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $255.34, for a total value of $6,383,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $134,308.84. This trade represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $247.15, for a total value of $6,178,750.00.
• On Monday, May 5th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $200.54, for a total value of $5,013,500.00.
• On Wednesday, April 23rd, Brian Armstrong sold 20,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.44, for a total value of $3,968,800.00.
• On Monday, April 14th, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $178.79, for a total value of $2,681,850.00.
• On Thursday, April 3rd, Brian Armstrong sold 15,000 shares of Coinbase Global stock. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00.

Coinbase Global Stock Up 7.8%

NASDAQ COIN traded up $18.86 during trading hours on Monday, reaching $261.57. 11,925,210 shares of the company's stock were exchanged, compared to its average volume of 10,120,728. The company's 50-day moving average is $223.36 and its two-hundred day moving average is $240.64. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $66.41 billion, a price-to-earnings ratio of 27.53 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the company posted $2.53 earnings per share. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on COIN. Citigroup reissued a "neutral" rating on shares of Coinbase Global in a report on Thursday, May 8th. JMP Securities reissued a "market outperform" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Thursday, May 8th. Bank of America dropped their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $268.00.

Institutional Trading of Coinbase Global

Large investors have recently bought and sold shares of the business. First Hawaiian Bank grew its stake in shares of Coinbase Global by 27.4% during the 1st quarter. First Hawaiian Bank now owns 1,675 shares of the cryptocurrency exchange's stock worth $288,000 after acquiring an additional 360 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Coinbase Global by 71.4% during the 1st quarter. Inspire Investing LLC now owns 1,789 shares of the cryptocurrency exchange's stock worth $308,000 after acquiring an additional 745 shares in the last quarter. Strs Ohio bought a new position in shares of Coinbase Global during the 1st quarter worth approximately $13,535,000. Jacobi Capital Management LLC grew its stake in shares of Coinbase Global by 14.0% during the 1st quarter. Jacobi Capital Management LLC now owns 1,976 shares of the cryptocurrency exchange's stock worth $340,000 after acquiring an additional 243 shares in the last quarter. Finally, Chelsea Counsel Co. grew its stake in shares of Coinbase Global by 21.3% during the 1st quarter. Chelsea Counsel Co. now owns 570 shares of the cryptocurrency exchange's stock worth $98,000 after acquiring an additional 100 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

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.