Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells 4,200 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 4,200 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coinbase Global Stock Down 2.3 %

Coinbase Global stock traded down $5.05 during midday trading on Wednesday, reaching $213.78. The company’s stock had a trading volume of 9,423,899 shares, compared to its average volume of 14,044,888. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $51.79 billion, a P/E ratio of 786.41 and a beta of 3.41. The business has a 50-day simple moving average of $219.76 and a 200-day simple moving average of $153.77.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. The business’s revenue was up 51.6% compared to the same quarter last year. On average, research analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $26,000. Ancora Advisors LLC increased its position in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. Tyler Stone Wealth Management acquired a new stake in shares of Coinbase Global during the second quarter worth about $31,000. Finally, Mather Group LLC. acquired a new stake in shares of Coinbase Global during the first quarter worth about $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. Bank of America increased their price target on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Finally, Oppenheimer raised their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.70.

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.