Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells 5,700 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value 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 link.

Coinbase Global Trading Up 4.9 %

COIN stock traded up $13.85 during midday trading on Friday, reaching $295.48. 11,193,678 shares of the company’s stock traded hands, compared to its average volume of 7,646,252. 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, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The business has a 50-day moving average price of $290.71 and a two-hundred day moving average price of $230.81. The company has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue was up 78.8% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the topic 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. Needham & Company LLC raised their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays boosted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Mizuho raised their target price 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. Finally, B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $282.83.

Institutional Inflows and Outflows

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