Coinbase Global, Inc. (NASDAQ:COIN) COO Sells $304,950.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares in the company, valued at approximately $35,598,033.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Emilie Choi also recently made the following trade(s):

• On Monday, October 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $181.36, for a total transaction of $272,040.00.
• On Monday, September 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $179.69, for a total transaction of $269,535.00.
• On Friday, September 13th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $162.24, for a total value of $243,360.00.
• On Tuesday, September 3rd, Emilie Choi sold 8,000 shares of Coinbase Global stock. The shares were sold at an average price of $176.09, for a total value of $1,408,720.00.
• On Friday, August 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $188.94, for a total value of $283,410.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $193.96 on Wednesday. The company has a market cap of $48.20 billion, a P/E ratio of 33.10 and a beta of 3.34. The firm has a fifty day moving average price of $180.63 and a 200 day moving average price of $208.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12 month low of $84.09 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. The company’s revenue was up 78.8% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Barclays raised their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $246.28.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after purchasing an additional 61 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.