Coinbase Global, Inc. (NASDAQ:COIN) Insider Lawrence J. Brock Sells 15,858 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 15,858 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.98, for a total value of $4,741,224.84. Following the completion of the transaction, the insider now directly owns 21,019 shares of the company’s stock, valued at approximately $6,284,260.62. This trade represents a 43.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coinbase Global Stock Performance

COIN opened at $343.62 on Friday. The firm has a market cap of $86.03 billion, a P/E ratio of 59.23 and a beta of 3.57. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a 50 day simple moving average of $239.66 and a two-hundred day simple moving average of $221.54. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) 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 business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC increased their price target on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 18th. Barclays raised their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $265.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the third quarter worth $409,919,000. Renaissance Technologies LLC grew its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares in the last quarter. American Century Companies Inc. increased its holdings in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Finally, Azora Capital LP boosted its holdings in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.