Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson Sells 10,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,940,100. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Coinbase Global Trading Down 2.1 %

COIN opened at $278.84 on Friday. The firm has a market capitalization of $69.81 billion, a PE ratio of 47.58 and a beta of 3.34. Coinbase Global, Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $334.86. The company’s 50-day moving average is $193.17 and its 200 day moving average is $210.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the business. Edgestream Partners L.P. raised its stake in Coinbase Global by 67.0% in the third quarter. Edgestream Partners L.P. now owns 29,750 shares of the cryptocurrency exchange’s stock valued at $5,301,000 after purchasing an additional 11,935 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Coinbase Global in the third quarter worth approximately $2,775,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Coinbase Global by 44.9% during the third quarter. Rockefeller Capital Management L.P. now owns 130,562 shares of the cryptocurrency exchange’s stock worth $23,262,000 after purchasing an additional 40,468 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Coinbase Global by 2.0% during the third quarter. Public Sector Pension Investment Board now owns 25,678 shares of the cryptocurrency exchange’s stock valued at $4,575,000 after acquiring an additional 500 shares in the last quarter. Finally, Ribbit Management Company LLC increased its position in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Mizuho raised their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $246.28.

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.