Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $3,675,283.04 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 16,456 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the sale, the insider now directly owns 16,140 shares of the company’s stock, valued at $3,604,707.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $18.79 during mid-day trading on Friday, reaching $237.65. 10,231,222 shares of the stock were exchanged, compared to its average volume of 12,622,181. The company has a market cap of $58.36 billion, a price-to-earnings ratio of 46.80 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $232.60 and a 200 day simple moving average of $179.08. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reduced their price target on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Oppenheimer increased their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Finally, HC Wainwright increased their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average target price of $214.67.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Cetera Investment Advisers boosted its stake in shares of Coinbase Global by 303.5% in the 1st quarter. Cetera Investment Advisers now owns 25,935 shares of the cryptocurrency exchange’s stock valued at $6,876,000 after purchasing an additional 19,508 shares during the last quarter. Sona Asset Management US LLC bought a new position in shares of Coinbase Global in the 1st quarter valued at about $2,704,000. Swedbank AB bought a new position in shares of Coinbase Global in the 1st quarter valued at about $5,047,000. Virtu Financial LLC bought a new position in shares of Coinbase Global in the 1st quarter valued at about $6,330,000. Finally, LBP AM SA bought a new position in shares of Coinbase Global in the 1st quarter valued at about $417,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.