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

Key Points

• Brian Armstrong, CEO of Coinbase Global, sold 25,000 shares on September 4th for approximately $7.55 million, reducing his ownership in the company by 97.94%.
• Coinbase Global's stock price rose by 1.0% to $302.20, with a market cap of $77.65 billion and a P/E ratio of 29.23.
• In recent earnings, Coinbase Global reported $1.50 billion in revenue but missed estimates, posting an EPS of only $0.12 against a forecast of $0.91.

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $302.19, for a total value of $7,554,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $158,951.94. This represents a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, August 12th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $326.71, for a total value of $8,167,750.00.
• 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 stock was 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 stock was 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 value of $10,796,526.55.
• On Tuesday, July 1st, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $338.29, for a total value of $8,457,250.00.
• On Thursday, June 26th, Brian Armstrong sold 113,735 shares of Coinbase Global stock. The shares were sold at an average price of $363.15, for a total value of $41,302,865.25.
• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The shares were sold at an average price of $362.61, for a total value 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 value of $6,383,500.00.

Coinbase Global Stock Up 1.0%

Shares of Coinbase Global stock traded up $3.13 during trading on Monday, hitting $302.20. 8,811,190 shares of the stock traded hands, compared to its average volume of 11,302,008. The stock has a market cap of $77.65 billion, a P/E ratio of 29.23 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a fifty day moving average price of $344.04 and a two-hundred day moving average price of $264.28.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. China Renaissance assumed coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price target on the stock. Compass Point reaffirmed a "sell" rating and issued a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. JMP Securities lifted their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $352.72.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. boosted its stake in Coinbase Global by 58.6% in the second quarter. Centaurus Financial Inc. now owns 1,139 shares of the cryptocurrency exchange's stock worth $399,000 after purchasing an additional 421 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in Coinbase Global by 32.6% in the second quarter. Orion Porfolio Solutions LLC now owns 10,660 shares of the cryptocurrency exchange's stock worth $3,736,000 after purchasing an additional 2,620 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in Coinbase Global in the second quarter worth $1,526,000. Carter Financial Group INC. acquired a new position in Coinbase Global in the second quarter worth $563,000. Finally, Cim Investment Management Inc. boosted its stake in Coinbase Global by 99.6% in the second quarter. Cim Investment Management Inc. now owns 8,998 shares of the cryptocurrency exchange's stock worth $3,154,000 after purchasing an additional 4,491 shares in the last quarter. Institutional investors and hedge funds 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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