Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke Purchases 8,974 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke acquired 8,974 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 22nd. The shares were purchased at an average cost of $42.35 per share, for a total transaction of $380,048.90. Following the purchase, the director now directly owns 115,872 shares in the company, valued at $4,907,179.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Tobias Lutke also recently made the following trade(s):

  • On Tuesday, November 15th, Tobias Lutke purchased 6,952 shares of Coinbase Global stock. The shares were purchased at an average cost of $55.00 per share, for a total transaction of $382,360.00.
  • On Tuesday, November 8th, Tobias Lutke acquired 6,495 shares of Coinbase Global stock. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $353,977.50.
  • On Tuesday, November 1st, Tobias Lutke purchased 5,585 shares of Coinbase Global stock. The stock was acquired at an average price of $68.99 per share, with a total value of $385,309.15.
  • On Tuesday, October 25th, Tobias Lutke acquired 5,573 shares of Coinbase Global stock. The stock was acquired at an average price of $66.96 per share, with a total value of $373,168.08.
  • On Tuesday, October 18th, Tobias Lutke purchased 5,349 shares of Coinbase Global stock. The stock was purchased at an average cost of $72.90 per share, for a total transaction of $389,942.10.
  • On Tuesday, October 11th, Tobias Lutke acquired 5,519 shares of Coinbase Global stock. The shares were purchased at an average cost of $67.61 per share, with a total value of $373,139.59.
  • On Tuesday, October 4th, Tobias Lutke bought 5,610 shares of Coinbase Global stock. The stock was purchased at an average cost of $69.09 per share, for a total transaction of $387,594.90.
  • On Tuesday, September 27th, Tobias Lutke purchased 5,941 shares of Coinbase Global stock. The shares were purchased at an average cost of $65.29 per share, with a total value of $387,887.89.
  • On Tuesday, September 20th, Tobias Lutke acquired 5,291 shares of Coinbase Global stock. The stock was acquired at an average price of $68.19 per share, for a total transaction of $360,793.29.
  • On Tuesday, September 13th, Tobias Lutke purchased 4,482 shares of Coinbase Global stock. The shares were acquired at an average cost of $75.39 per share, for a total transaction of $337,897.98.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $2.18 on Thursday, reaching $45.57. 14,665,807 shares of the stock were exchanged, compared to its average volume of 20,386,738. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $10.34 billion, a PE ratio of -7.51 and a beta of 2.50. The firm’s 50 day moving average is $62.64 and its 200-day moving average is $65.46. Coinbase Global, Inc. has a one year low of $40.61 and a one year high of $331.70.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). The firm had revenue of $590.34 million for the quarter, compared to analyst estimates of $642.76 million. Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. As a group, analysts anticipate that Coinbase Global, Inc. will post -11.42 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

Large investors have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of Coinbase Global by 13.2% in the first quarter. Signaturefd LLC now owns 868 shares of the cryptocurrency exchange’s stock worth $165,000 after acquiring an additional 101 shares during the last quarter. Cibc World Market Inc. boosted its position in Coinbase Global by 1.5% in the second quarter. Cibc World Market Inc. now owns 7,629 shares of the cryptocurrency exchange’s stock valued at $359,000 after buying an additional 115 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Coinbase Global by 1.2% during the second quarter. Cetera Advisor Networks LLC now owns 9,913 shares of the cryptocurrency exchange’s stock worth $466,000 after buying an additional 121 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Coinbase Global by 0.5% during the first quarter. Los Angeles Capital Management LLC now owns 23,681 shares of the cryptocurrency exchange’s stock worth $4,496,000 after buying an additional 126 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Coinbase Global by 14.5% in the 1st quarter. DAVENPORT & Co LLC now owns 1,186 shares of the cryptocurrency exchange’s stock valued at $225,000 after acquiring an additional 150 shares during the last quarter. 49.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. Piper Sandler dropped their target price on Coinbase Global from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Needham & Company LLC cut their price objective on Coinbase Global from $89.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday. Barclays lowered their target price on shares of Coinbase Global from $55.00 to $44.00 and set an “equal weight” rating on the stock in a report on Tuesday. DA Davidson dropped their target price on shares of Coinbase Global from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 16th. Finally, Keefe, Bruyette & Woods cut Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $89.17.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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