Coinbase Global (NASDAQ:COIN) Insider Sells $1,478,923.16 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence Brock sold 5,902 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $250.58, for a total transaction of $1,478,923.16. Following the transaction, the insider directly owned 497 shares in the company, valued at $124,538.26. The trade was a 92.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Coinbase Global Trading Up 4.3%

NASDAQ:COIN traded up $10.85 during mid-day trading on Wednesday, reaching $264.97. The company’s stock had a trading volume of 9,870,713 shares, compared to its average volume of 10,950,419. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a market cap of $71.45 billion, a P/E ratio of 22.92 and a beta of 3.67. The company’s fifty day simple moving average is $324.14 and its two-hundred day simple moving average is $317.87. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The firm’s revenue was up 55.1% on a year-over-year basis. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. Williams Trading set a $405.00 target price on Coinbase Global in a research report on Thursday, July 31st. UBS Group set a $404.00 price objective on shares of Coinbase Global in a report on Friday, October 24th. Piper Sandler restated a “neutral” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. Finally, Rosenblatt Securities upped their target price on Coinbase Global from $450.00 to $470.00 in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $398.08.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC lifted its position in shares of Coinbase Global by 23.6% in the 1st quarter. AE Wealth Management LLC now owns 1,281 shares of the cryptocurrency exchange’s stock worth $221,000 after purchasing an additional 245 shares during the period. Avantax Advisory Services Inc. boosted its position in Coinbase Global by 110.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,211 shares of the cryptocurrency exchange’s stock valued at $1,242,000 after acquiring an additional 3,781 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Coinbase Global by 81.6% in the 1st quarter. Cetera Investment Advisers now owns 68,274 shares of the cryptocurrency exchange’s stock valued at $11,759,000 after acquiring an additional 30,669 shares during the period. Assetmark Inc. grew its stake in Coinbase Global by 124.8% in the first quarter. Assetmark Inc. now owns 8,220 shares of the cryptocurrency exchange’s stock valued at $1,416,000 after purchasing an additional 4,563 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Coinbase Global by 43.1% in the first quarter. HB Wealth Management LLC now owns 2,203 shares of the cryptocurrency exchange’s stock worth $379,000 after purchasing an additional 663 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.