Coinbase Global, Inc. (NASDAQ:COIN) CAO Sells $541,951.74 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $310.98 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. The company has a 50 day moving average price of $219.83 and a 200 day moving average price of $216.55. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares during the period. Fifth Third Bancorp boosted its position in Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares during the period. Versant Capital Management Inc boosted its position in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the period. Finally, Larson Financial Group LLC boosted its position in Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COIN shares. Oppenheimer increased their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, Barclays increased their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $255.22.

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.