Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas Sells 6,080 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 6,080 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $247.47, for a total value of $1,504,617.60. Following the sale, the chief financial officer now directly owns 100,366 shares in the company, valued at $24,837,574.02. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Stock Up 16.3%

NASDAQ:COIN opened at $295.29 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a 50-day moving average of $227.26 and a 200 day moving average of $241.11. The firm has a market cap of $74.97 billion, a PE ratio of 55.30, a price-to-earnings-growth ratio of 18.50 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COIN. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group reiterated a “hold” rating and set a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Piper Sandler upped their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.88.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Coinbase Global in the 4th quarter valued at $536,484,000. Groupama Asset Managment bought a new stake in Coinbase Global during the fourth quarter valued at about $372,450,000. Vanguard Group Inc. grew its stake in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Nuveen LLC purchased a new position in Coinbase Global in the first quarter valued at about $83,454,000. Finally, Amundi raised its holdings in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.