Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 165,443 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 165,443 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $395.82, for a total value of $65,485,648.26. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $208,201.32. The trade was a 99.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, July 11th, Brian Armstrong sold 27,751 shares of Coinbase Global stock. The shares were 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 shares were 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.
• 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.
• 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 value 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 value of $3,968,800.00.

Coinbase Global Stock Up 2.6%

Shares of NASDAQ:COIN traded up $10.18 on Wednesday, reaching $398.20. The company had a trading volume of 14,350,542 shares, compared to its average volume of 10,972,923. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $405.68. The firm's 50 day simple moving average is $293.80 and its 200-day simple moving average is $249.03. The firm has a market capitalization of $101.10 billion, a PE ratio of 74.57, a PEG ratio of 29.52 and a beta of 3.70. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the prior year, the business posted $2.53 earnings per share. The company's revenue was up 24.2% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. purchased a new position in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter worth $26,000. Bessemer Group Inc. grew 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 worth $26,000 after buying an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global during the 1st quarter worth $30,000. Finally, S Bank Fund Management Ltd purchased a new position in Coinbase Global during the 1st quarter worth $31,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. China Renaissance initiated coverage on Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target for the company. Sanford C. Bernstein raised their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Needham & Company LLC decreased their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, May 13th. Finally, Barclays raised their price target on Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $305.71.

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.