Coinbase Global (NASDAQ:COIN) CFO Alesia Haas Sells 5,633 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 5,633 shares of Coinbase Global stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $266.49, for a total transaction of $1,501,138.17. Following the completion of the transaction, the chief financial officer directly owned 78,714 shares in the company, valued at approximately $20,976,493.86. This trade represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Coinbase Global Trading Down 3.5%

Shares of NASDAQ:COIN traded down $8.83 during mid-day trading on Wednesday, hitting $243.78. The stock had a trading volume of 8,347,875 shares, compared to its average volume of 10,797,527. The company’s 50 day moving average is $301.82 and its 200-day moving average is $319.12. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $65.73 billion, a PE ratio of 21.09 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company’s revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and raised their price target for the stock from $300.00 to $425.00 in a report on Thursday, October 30th. Rosenblatt Securities upped their price objective on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. Erste Group Bank downgraded shares of Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Bank of America lowered their price target on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $388.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Evelyn Partners Investment Management Europe Ltd increased its position in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares during the last quarter. REAP Financial Group LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC lifted its holdings in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Institutional investors 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.