Jennifer Jones Sells 1,787 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 1,787 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Coinbase Global Trading Up 4.3%

NASDAQ:COIN traded up $10.85 on Wednesday, hitting $264.97. 9,874,055 shares of the stock were exchanged, compared to its average volume of 10,951,709. The stock has a fifty day moving average of $324.14 and a 200-day moving average of $317.87. The stock has a market cap of $71.45 billion, a PE ratio of 22.92 and a beta of 3.67. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 55.1% on a year-over-year basis. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COIN shares. Erste Group Bank downgraded shares of Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Barclays reduced their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $398.08.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in COIN. REAP Financial Group LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd lifted its position in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Coinbase Global during the 3rd quarter valued at about $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter valued at $30,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the 2nd quarter worth about $30,000. Institutional investors and hedge funds 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.