Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $1,521,159.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $295.48 on Monday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The firm’s fifty day simple moving average is $291.21 and its 200-day simple moving average is $231.31.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banco Santander S.A. boosted its position in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC increased its position in Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $29,756,000. Lindbrook Capital LLC raised its holdings in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Coinbase Global during the second quarter worth about $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on COIN. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $282.83.

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.