Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $6,000,000.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Trading Up 4.9 %

Shares of COIN traded up $13.85 on Friday, hitting $295.48. 11,193,678 shares of the stock traded hands, compared to its average volume of 7,646,252. The firm has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The stock’s 50 day moving average is $290.71 and its two-hundred day moving average is $230.81.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned ($0.01) EPS. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of several research analyst reports. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Coinbase Global by 10.1% during the third 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth $409,919,000. Charles Schwab Investment Management Inc. boosted its holdings in Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC grew its position in Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after acquiring an additional 17,650 shares during the period. Institutional investors and hedge funds 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.