Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells 6,080 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 6,080 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $247.47, for a total value of $1,504,617.60. Following the completion of the sale, the chief financial officer now directly owns 100,366 shares of the company’s stock, valued at $24,837,574.02. The trade was a 5.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Coinbase Global Price Performance

NASDAQ:COIN opened at $295.29 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The company has a 50 day moving average price of $227.26 and a 200-day moving average price of $241.11. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The firm has a market cap of $74.97 billion, a price-to-earnings ratio of 55.30, a price-to-earnings-growth ratio of 18.50 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on COIN. William Blair began coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an “outperform” rating for the company. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, May 13th. Mizuho cut their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Needham & Company LLC cut their target price on Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.88.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the 4th quarter valued at approximately $372,450,000. Vanguard Group Inc. grew its stake in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the period. Nuveen LLC purchased a new stake in Coinbase Global in the 1st quarter worth $83,454,000. Finally, Amundi increased its holdings in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after acquiring an additional 481,786 shares in the last quarter. 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.