Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells 4,635 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Coinbase Global Stock Up 5.9 %

Shares of Coinbase Global stock opened at $270.74 on Friday. The firm has a market cap of $67.78 billion, a PE ratio of 46.20 and a beta of 3.34. The business’s 50 day simple moving average is $184.92 and its 200 day simple moving average is $209.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52-week low of $88.62 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. On average, analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Barclays boosted their target price on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.28.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 100 shares in the last quarter. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter worth $32,000. Institutional investors own 68.84% of the company’s stock.

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.