Insider Selling: Coinbase Global (NASDAQ:COIN) Director Sells $1,353,924.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Marc Andreessen sold 6,838 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $198.00, for a total value of $1,353,924.00. Following the transaction, the director owned 1,108,972 shares in the company, valued at approximately $219,576,456. This represents a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Up 2.9%

Shares of NASDAQ COIN traded up $5.22 on Monday, hitting $188.22. The company had a trading volume of 7,802,886 shares, compared to its average volume of 10,237,729. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $402.16. The firm has a market capitalization of $49.66 billion, a P/E ratio of -49.02 and a beta of 3.41. The business has a 50 day moving average of $173.36 and a two-hundred day moving average of $175.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.14 earnings per share. As a group, equities research analysts forecast that Coinbase Global, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Archer Investment Corp acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in Coinbase Global in the fourth quarter worth about $27,000. Osbon Capital Management LLC bought a new stake in Coinbase Global in the fourth quarter valued at about $30,000. Glen Eagle Advisors LLC increased its holdings in Coinbase Global by 101.1% in the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Finally, Brooklands Fund Management Ltd acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $34,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on shares of Coinbase Global from $130.00 to $205.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Oppenheimer cut their price objective on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Raymond James Financial began coverage on shares of Coinbase Global in a research report on Wednesday, July 22nd. They issued a “market perform” rating for the company. Finally, UBS Group set a $155.00 target price on Coinbase Global in a research note on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $222.97.

Key Stories Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Bitcoin strength is supporting crypto-exchange stocks. Bitcoin approached $87,000, near its late-September high, and improving U.S. demand indicated by the Coinbase Premium Index is favorable for trading activity and transaction revenue. MSTR, COIN, CRCL, BMNR Stocks Rally With Bitcoin Within $500 Of September Peak
• Positive Sentiment: Bank of America raised its Coinbase price target to $203 while maintaining a Buy rating. The upgrade provides a positive valuation signal, although the company has missed analyst earnings estimates in each of the last three quarters. Bank of America raises Coinbase price target to $203
• Positive Sentiment: Coinbase’s expanded partnership with Citigroup could strengthen its institutional business. The collaboration supports stablecoin payments and Coinbase Virtual Accounts, linking Coinbase’s digital-asset infrastructure with Citi’s banking network. Brian Armstrong Cheers Citi Partnership
• Positive Sentiment: Crypto-friendly political momentum may improve the regulatory outlook. Fairshake, supported by Coinbase and other crypto-industry firms, plans to back 32 House candidates who supported the CLARITY market-structure bill. FinCEN’s withdrawal of proposed crypto-mixing and self-custody reporting rules is also viewed as less restrictive for the industry. Crypto PAC announces support for 32 House candidates
• Neutral Sentiment: A proposed stablecoin backed by Visa, Mastercard, Stripe and Coinbase could expand the market but increase competition. The initiative may create new distribution opportunities while potentially challenging Coinbase’s existing USDC-related economics. Visa, Mastercard, Stripe, and Coinbase Commit $1 Billion to New Stablecoin
• Negative Sentiment: Chief Accounting Officer Jennifer Jones plans to retire after a successor is appointed, extending a period of leadership changes that follows Coinbase’s reported 14% workforce reduction. Coinbase CAO to retire
• Negative Sentiment: Comparisons with Intercontinental Exchange highlight COIN’s riskier investment profile. Analysts view ICE as stronger on projected growth, share gains and valuation because of its more diversified business. Coinbase has also continued to trail earnings expectations. Coinbase vs. Intercontinental: Which Exchange Stock Has an Edge?

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.