Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas Sells 5,700 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coinbase Global Stock Up 4.9 %

Shares of NASDAQ:COIN opened at $295.48 on Friday. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The company has a 50 day moving average of $291.21 and a two-hundred day moving average of $231.24. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COIN shares. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt boosted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $282.83.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after buying an additional 181 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.