Insider Selling: 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 on Thursday, November 7th. The shares were sold at an average price of $254.89, for a total transaction of $2,548,900.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $22,940,100. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coinbase Global Trading Down 2.1 %

NASDAQ COIN opened at $278.84 on Friday. The company has a market capitalization of $69.81 billion, a price-to-earnings ratio of 47.58 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $93.07 and a 12 month high of $334.86. The company’s fifty day moving average price is $193.17 and its two-hundred day moving average price is $210.75. 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 (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Compass Point decreased their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Bank of America increased their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho boosted their price target 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, Needham & Company LLC increased their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $246.28.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter worth approximately $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 during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% in 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 during the period. Finally, ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

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.