Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CAO Sells $541,951.74 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Coinbase Global Stock Performance

Coinbase Global stock opened at $310.98 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75. The stock has a fifty day moving average of $222.79 and a two-hundred day moving average of $217.21. The company has a market capitalization of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced 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). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Oppenheimer increased their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday. Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $255.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $25,000. 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 acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global in the 2nd quarter worth approximately $29,000. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at approximately $32,000. 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.