Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong Sells 336,265 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 336,265 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $41,302,865.25.
• 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.
• 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 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 shares were 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 shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00.

Coinbase Global Trading Down 5.8%

COIN traded down $21.64 during midday trading on Friday, hitting $353.43. 28,941,436 shares of the company were exchanged, compared to its average volume of 10,698,461. The firm's 50 day moving average price is $246.10 and its 200-day moving average price is $241.58. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $382.00. The firm has a market capitalization of $89.73 billion, a P/E ratio of 66.19, a P/E/G ratio of 25.99 and a beta of 3.61. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data 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 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the business earned $2.53 earnings per share. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. William Blair initiated coverage on Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating for the company. JPMorgan Chase & Co. reduced their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research report on Friday, May 9th. Finally, China Renaissance assumed coverage on Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price for the company. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $291.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp lifted its holdings in Coinbase Global by 18.8% in the fourth quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange's stock valued at $1,633,000 after buying an additional 1,040 shares during the period. First Horizon Advisors Inc. grew its stake in Coinbase Global by 19.2% during the fourth quarter. First Horizon Advisors Inc. now owns 621 shares of the cryptocurrency exchange's stock worth $154,000 after purchasing an additional 100 shares during the period. Amalgamated Bank increased its holdings in Coinbase Global by 4.7% in the fourth quarter. Amalgamated Bank now owns 13,118 shares of the cryptocurrency exchange's stock worth $3,257,000 after purchasing an additional 585 shares in the last quarter. National Pension Service lifted its stake in Coinbase Global by 1.6% in the fourth quarter. National Pension Service now owns 269,936 shares of the cryptocurrency exchange's stock valued at $67,025,000 after buying an additional 4,290 shares during the period. Finally, New York Life Investment Management LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $847,000. Institutional investors and hedge funds own 68.84% of the company's stock.

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.

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