Brian Armstrong Sells 23,075 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, July 11th, Brian Armstrong sold 23,075 shares of Coinbase Global stock. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25.

Coinbase Global Stock Down 7.7 %

Shares of NASDAQ COIN opened at $147.35 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The firm’s fifty day moving average is $210.96 and its 200 day moving average is $223.56. The company has a market cap of $36.18 billion, a price-to-earnings ratio of 29.41 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned ($0.42) earnings per share. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent analyst reports. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $206.00 to $169.00 in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $246.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in Coinbase Global in the fourth quarter valued at $27,000. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the second quarter valued at $29,000. Concord Wealth Partners boosted its holdings in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.