Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells 7,575 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Coinbase Global Stock Down 2.8 %

COIN stock opened at $188.58 on Friday. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 19.85 and a beta of 3.66. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The business has a 50 day moving average price of $241.79 and a two-hundred day moving average price of $241.51. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares during the last quarter. Clear Street Derivatives LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $409,919,000. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter valued at $536,484,000. Finally, Groupama Asset Managment bought a new position in Coinbase Global during the fourth quarter worth $372,450,000. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COIN shares. Rosenblatt Securities reissued a “buy” rating and set a $305.00 price target on shares of Coinbase Global in a research report on Wednesday. The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. JMP Securities increased their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Piper Sandler increased their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

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.