Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $1,025,062.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Trading Down 3.0 %

Shares of Coinbase Global stock traded down $6.28 during trading hours on Thursday, hitting $204.20. The company’s stock had a trading volume of 8,841,307 shares, compared to its average volume of 10,382,669. Coinbase Global, Inc. has a 1-year low of $70.42 and a 1-year high of $283.48. The business has a fifty day moving average of $179.44 and a 200 day moving average of $211.95. The company has a market capitalization of $50.15 billion, a PE ratio of 40.76 and a beta of 3.35. 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 (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (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 business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company earned ($0.42) EPS. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COIN. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright reduced their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Barclays upped their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $246.44.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the business. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the 2nd quarter valued at $29,000. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.