Alesia J. Haas Sells 7,575 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Coinbase Global Stock Performance

COIN stock traded down $10.28 during trading on Wednesday, hitting $193.95. The company had a trading volume of 6,985,304 shares, compared to its average volume of 9,623,827. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm has a 50-day moving average price of $245.27 and a 200-day moving average price of $242.22. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $49.24 billion, a PE ratio of 20.42 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently modified their holdings of the business. Cerity Partners LLC boosted its stake in shares of Coinbase Global by 11.0% in the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after buying an additional 1,393 shares in the last quarter. Swedbank AB boosted its position in shares of Coinbase Global by 1.6% during the 3rd quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock worth $8,233,000 after purchasing an additional 730 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Coinbase Global by 12.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,464 shares of the cryptocurrency exchange’s stock worth $2,577,000 after purchasing an additional 1,600 shares during the period. DRW Securities LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $355,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on COIN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $305.00 target price on shares of Coinbase Global in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research report on Tuesday, February 18th. The Goldman Sachs Group initiated coverage on Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Finally, Barclays upped their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.72.

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.