Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $2,548,900.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at $22,940,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Coinbase Global Price Performance

NASDAQ:COIN opened at $319.13 on Wednesday. The firm has a market cap of $79.89 billion, a PE ratio of 54.46 and a beta of 3.34. The company’s 50-day moving average price is $187.74 and its two-hundred day moving average price is $209.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12 month low of $88.62 and a 12 month high of $334.86.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.26 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 78.8% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Crewe Advisors LLC lifted its position in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global in the second quarter worth about $29,000. Versant Capital Management Inc lifted 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. Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $33,000. Finally, Continuum Advisory LLC increased its holdings in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Needham & Company LLC boosted their price target on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.28.

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.