Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CEO Sells 183,506 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 183,506 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $397.17, for a total transaction of $72,883,078.02. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $208,911.42. This trade represents a 99.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $78,897,621.00.
• 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 transaction 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 transaction 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 transaction of $8,457,250.00.
• On Thursday, June 26th, Brian Armstrong sold 113,735 shares of Coinbase Global stock. The stock was sold at an average price of $363.15, for a total transaction of $41,302,865.25.
• On Wednesday, June 25th, Brian Armstrong sold 336,265 shares of Coinbase Global stock. The stock was 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 shares were 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 shares were 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 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 transaction of $3,968,800.00.

Coinbase Global Trading Up 3.2%

Shares of Coinbase Global stock traded up $12.55 during trading on Thursday, reaching $410.75. 16,730,775 shares of the company were exchanged, compared to its average volume of 11,004,714. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $417.73. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $104.28 billion, a price-to-earnings ratio of 76.92, a P/E/G ratio of 30.30 and a beta of 3.70. The business has a 50-day moving average price of $297.88 and a 200-day moving average price of $250.10.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price on the stock. China Renaissance started coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price on the stock. Needham & Company LLC lowered their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Rosenblatt Securities lifted their target price on shares of Coinbase Global from $300.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $313.10.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $26,000. Bessemer Group Inc. raised its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Coinbase Global in the 1st quarter worth approximately $30,000. Finally, S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global in the 1st quarter worth approximately $31,000. 68.84% of the stock is owned by institutional investors.

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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