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

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $247.15, for a total value of $6,178,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $130,000.90. The trade was a 97.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction 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 stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00.
• On Tuesday, March 25th, Brian Armstrong sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00.

Coinbase Global Price Performance

COIN traded down $11.80 during trading on Thursday, hitting $244.20. 11,943,454 shares of the company traded hands, compared to its average volume of 10,153,399. The company has a market cap of $62.00 billion, a PE ratio of 25.71 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock's 50-day simple moving average is $209.73 and its two-hundred day simple moving average is $244.84.

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

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank raised its position in Coinbase Global by 27.4% in the 1st quarter. First Hawaiian Bank now owns 1,675 shares of the cryptocurrency exchange's stock worth $288,000 after purchasing an additional 360 shares during the period. Inspire Investing LLC increased its position in Coinbase Global by 71.4% during the 1st quarter. Inspire Investing LLC now owns 1,789 shares of the cryptocurrency exchange's stock valued at $308,000 after buying an additional 745 shares in the last quarter. Strs Ohio acquired a new stake in Coinbase Global in the 1st quarter worth approximately $13,535,000. Jacobi Capital Management LLC increased its position in shares of Coinbase Global by 14.0% in the 1st quarter. Jacobi Capital Management LLC now owns 1,976 shares of the cryptocurrency exchange's stock valued at $340,000 after acquiring an additional 243 shares during the period. Finally, Chelsea Counsel Co. increased its holdings in shares of Coinbase Global by 21.3% in the first quarter. Chelsea Counsel Co. now owns 570 shares of the cryptocurrency exchange's stock valued at $98,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, May 12th. Citigroup reiterated a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Bank of America reduced their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $266.10.

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.