Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells $41,302,865.25 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 113,735 shares of Coinbase Global stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $363.15, for a total value of $41,302,865.25. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $191,016.90. This trade represents a 99.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 transaction of $121,933,051.65.
• On Wednesday, June 11th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was 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 stock was sold at an average price of $247.15, for a total transaction of $6,178,750.00.
• On Monday, May 5th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00.
• On Wednesday, April 23rd, Brian Armstrong sold 20,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.44, for a total transaction 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.

Coinbase Global Stock Performance

Coinbase Global stock traded down $2.94 during mid-day trading on Monday, reaching $350.49. 11,172,329 shares of the company traded hands, compared to its average volume of 10,720,023. The firm's fifty day moving average is $253.18 and its two-hundred day moving average is $241.21. The company has a market capitalization of $88.98 billion, a price-to-earnings ratio of 65.63, a price-to-earnings-growth ratio of 25.85 and a beta of 3.62. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $382.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global's revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.53 earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research note on Monday, May 12th. Oppenheimer reissued an "outperform" rating and issued a $395.00 target price (up from $293.00) on shares of Coinbase Global in a report on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and set a $300.00 price target on shares of Coinbase Global in a research note on Monday, June 16th. JMP Securities reiterated a "market outperform" rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 25th. Finally, Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter worth approximately $26,000. Bessemer Group Inc. lifted its stake in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares during the period. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $30,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.