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Brian Armstrong, the Chairman and CEO of Coinbase Global , Inc. (NASDAQ:COIN), sold shares worth approximately $5.8 million on March 3, according to a recent SEC filing. The transactions were executed by the Brian Armstrong Living Trust under a pre-arranged trading plan. The cryptocurrency exchange, currently valued at $56.55 billion, maintains a strong financial position with InvestingPro data showing liquid assets exceeding short-term obligations.
The sales involved a total of 25,000 shares of Class A common stock, with prices ranging from $229.44 to $232.15 per share. Following these transactions, the trust retains ownership of 526 shares directly, with additional holdings of Class B common stock convertible into Class A shares. According to InvestingPro analysis, Coinbase’s stock has shown significant volatility, with the company currently trading above its Fair Value estimate.
These transactions reflect Armstrong’s ongoing management of his substantial holdings in the cryptocurrency exchange, as disclosed in the filing. InvestingPro subscribers have access to 8 additional exclusive tips about Coinbase’s financial outlook and comprehensive analysis through the Pro Research Report, helping investors make more informed decisions about this volatile crypto stock.
In other recent news, Coinbase Global Inc. has seen significant developments impacting its operations and investor outlook. The Securities and Exchange Commission (SEC) has dropped its civil enforcement case against Coinbase, a move that aligns with the agency’s efforts to create a more open cryptocurrency policy. This regulatory reprieve coincides with a review by Moody’s Ratings, which is considering upgrading Coinbase’s credit ratings due to improvements in the company’s financial profile and liquidity position. Coinbase’s revenue, earnings, and cash flow have shown robust growth, with liquidity reaching $9.3 billion by the end of 2024.
CFRA analysts have maintained a Hold rating on Coinbase but have adjusted the 12-month price target from $325 to $230, reflecting a cautious stance despite the positive regulatory developments. The decision to lower the price target is based on an enterprise value-to-sales multiple of 7.5 times CFRA’s 2025 revenue estimate for Coinbase. Meanwhile, Citadel Securities announced plans to enter cryptocurrency market-making, including on exchanges operated by Coinbase, driven by optimism about the regulatory environment under the Trump administration. These recent developments highlight the evolving landscape for Coinbase and its strategic positioning within the cryptocurrency sector.
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