Coinbase Global (NASDAQ:COIN) Insider Sells $1,478,923.16 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence Brock sold 5,902 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $250.58, for a total transaction of $1,478,923.16. Following the completion of the transaction, the insider directly owned 497 shares of the company’s stock, valued at $124,538.26. The trade was a 92.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $10.85 during midday trading on Wednesday, hitting $264.97. The company’s stock had a trading volume of 9,870,713 shares, compared to its average volume of 10,950,419. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market cap of $71.45 billion, a P/E ratio of 22.92 and a beta of 3.67. The firm’s 50 day moving average is $324.14 and its 200-day moving average is $317.87.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company’s revenue was up 55.1% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. Barclays lowered their price target on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. UBS Group set a $404.00 price target on shares of Coinbase Global in a report on Friday, October 24th. B. Riley upped their price objective on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Compass Point cut their target price on Coinbase Global from $277.00 to $266.00 in a research note on Friday, October 31st. Finally, Citigroup lifted their target price on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.08.

Institutional Trading of Coinbase Global

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Coinbase Global by 672.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after acquiring an additional 1,015 shares during the period. SP Asset Management LLC purchased a new stake in shares of Coinbase Global during the second quarter worth approximately $360,000. Kera Capital Partners Inc. boosted its stake in shares of Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares in the last quarter. Parallel Advisors LLC grew its holdings in Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after acquiring an additional 5,402 shares during the period. Finally, New York Life Investment Management LLC lifted its holdings in Coinbase Global by 890.8% in the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock valued at $11,033,000 after acquiring an additional 28,302 shares during the period. 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.