Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells 20,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Coinbase Global Stock Performance

Shares of COIN stock opened at $295.48 on Friday. The stock has a market cap of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59. The stock has a 50-day moving average of $291.21 and a 200-day moving average of $231.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COIN. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $282.83.

Institutional Trading of Coinbase Global

Large investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC raised its position in shares of Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after purchasing an additional 51 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in Coinbase Global by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares in the last quarter. Institutional investors 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.