Insider Selling: Coinbase Global (NASDAQ:COIN) CFO Sells 8,050 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 8,050 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $250.00, for a total transaction of $2,012,500.00. Following the completion of the transaction, the chief financial officer directly owned 70,664 shares in the company, valued at approximately $17,666,000. The trade was a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $1.87 on Friday, hitting $241.15. 7,574,539 shares of the company were exchanged, compared to its average volume of 8,982,444. The stock’s 50 day moving average price is $258.13 and its 200 day moving average price is $312.36. The firm has a market capitalization of $65.02 billion, a P/E ratio of 20.86 and a beta of 3.70. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. 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 (NASDAQ:COINGet Free Report) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 55.1% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. UBS Group set a $340.00 target price on Coinbase Global in a research report on Wednesday, December 17th. Piper Sandler decreased their price target on shares of Coinbase Global from $350.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday. Rosenblatt Securities lifted their price target on Coinbase Global from $450.00 to $470.00 in a report on Friday, October 31st. Compass Point set a $230.00 target price on shares of Coinbase Global in a report on Monday, December 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.72.

View Our Latest Stock Analysis on COIN

Institutional Trading of Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Coinbase Global by 25.5% in the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock valued at $8,484,964,000 after purchasing an additional 4,914,407 shares during the period. Norges Bank acquired a new position in Coinbase Global in the second quarter worth $1,044,354,000. Geode Capital Management LLC grew its position in shares of Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after buying an additional 1,755,146 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $224,663,000. Finally, Baillie Gifford & Co. bought a new stake in Coinbase Global in the third quarter valued at $198,249,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

Coinbase Global Company Profile

(Get Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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