Coinbase Global (NASDAQ:COIN) Director Sells $1,590,900.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at approximately $3,181,800. This represents a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Down 2.5%

Shares of NASDAQ COIN opened at $159.36 on Thursday. The company has a market cap of $41.98 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 5.77 and a beta of 3.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $444.64. The stock has a 50-day moving average price of $175.05 and a two-hundred day moving average price of $190.72.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was down 30.5% on a year-over-year basis. As a group, analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

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Analyst Ratings Changes

COIN has been the topic of several recent research reports. Rothschild & Co Redburn lifted their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Citizens Jmp dropped their price target on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating on the stock in a research report on Friday, April 10th. B. Riley Financial reduced their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Bank of America lowered their target price on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Finally, Sanford C. Bernstein cut their price target on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.65.

View Our Latest Research Report on COIN

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. MV Capital Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. Palisade Asset Management LLC purchased a new position in Coinbase Global during the third quarter worth about $29,000. Osbon Capital Management LLC purchased a new position in Coinbase Global during the fourth quarter worth about $30,000. Glen Eagle Advisors LLC grew its position in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Finally, Archer Investment Corp grew its position in Coinbase Global by 546.4% in the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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