Brian Armstrong Sells 25,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Key Points

• Brian Armstrong, CEO of Coinbase Global, Inc., recently sold 25,000 shares of the company's stock for approximately $8.17 million, reducing his ownership by nearly 98%.
• Coinbase's stock is currently trading at around $324.89, down 0.6% on the day, and has a market capitalization of about $83.48 billion.
• Despite a quarterly earnings miss, analysts continue to have different views on Coinbase, with ratings ranging from "neutral" to "buy", and a consensus price target of $352.18.

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $326.71, for a total transaction of $8,167,750.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $171,849.46. This represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, August 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $317.09, for a total value of $7,927,250.00.
• On Wednesday, July 16th, Brian Armstrong sold 198,300 shares of Coinbase Global stock. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00.
• On Tuesday, July 15th, Brian Armstrong sold 183,506 shares of Coinbase Global stock. The stock was sold at an average price of $397.17, for a total value of $72,883,078.02.
• On Monday, July 14th, Brian Armstrong sold 165,443 shares of Coinbase Global stock. The shares were sold at an average price of $395.82, for a total value of $65,485,648.26.
• On Friday, July 11th, Brian Armstrong sold 27,751 shares of Coinbase Global stock. The stock was sold at an average price of $389.05, for a total transaction of $10,796,526.55.
• On Tuesday, July 1st, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $338.29, for a total transaction of $8,457,250.00.
• On Thursday, June 26th, Brian Armstrong sold 113,735 shares of Coinbase Global stock. The stock was sold at an average price of $363.15, for a total transaction of $41,302,865.25.
• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65.
• On Wednesday, June 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $255.34, for a total transaction of $6,383,500.00.
• On Monday, June 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $247.15, for a total value of $6,178,750.00.

Coinbase Global Trading Down 0.6%

COIN traded down $2.12 during trading on Thursday, reaching $324.89. 9,373,088 shares of the stock traded hands, compared to its average volume of 11,647,061. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average is $337.03 and its 200 day moving average is $260.87. The stock has a market capitalization of $83.48 billion, a PE ratio of 31.42 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COIN. Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. William Blair initiated coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Oppenheimer reissued an "outperform" rating and issued a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $352.18.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC lifted its holdings in Coinbase Global by 12.0% during the fourth quarter. Townsquare Capital LLC now owns 5,308 shares of the cryptocurrency exchange's stock worth $1,318,000 after acquiring an additional 570 shares during the period. Sagespring Wealth Partners LLC bought a new position in Coinbase Global in the 4th quarter worth about $324,000. Mariner LLC boosted its position in shares of Coinbase Global by 9.3% in the fourth quarter. Mariner LLC now owns 80,219 shares of the cryptocurrency exchange's stock valued at $19,920,000 after acquiring an additional 6,798 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth $522,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $282,000. Institutional investors own 68.84% of the company's stock.

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.

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