Coinbase Global, Inc. (NASDAQ:COIN) COO Sells 8,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $232.24, for a total value of $1,857,920.00. Following the transaction, the chief operating officer now owns 197,971 shares in the company, valued at approximately $45,976,785.04. The sale was disclosed in a document filed with the SEC, which is available through this link.

Emilie Choi also recently made the following trade(s):

• On Friday, June 28th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $223.95, for a total value of $335,925.00.
• On Friday, June 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $246.16, for a total value of $369,240.00.
• On Tuesday, May 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $195.90, for a total value of $293,850.00.
• On Tuesday, April 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $215.00, for a total value of $322,500.00.
• On Monday, April 15th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $248.00, for a total value of $372,000.00.

Coinbase Global Stock Performance

NASDAQ COIN opened at $224.94 on Friday. The company has a market cap of $55.24 billion, a P/E ratio of 44.90 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $227.71 and a two-hundred day moving average of $203.62. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $110.00 to $217.00 in a report on Friday, May 17th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Canaccord Genuity Group raised their price objective on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $215.50.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Morgan Stanley raised its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares in the last quarter. Norges Bank purchased a new position in Coinbase Global in the fourth quarter worth approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $147,646,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Coinbase Global by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after purchasing an additional 37,847 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

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.