Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $12,000,000.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Coinbase Global Stock Down 2.1 %

Coinbase Global stock opened at $278.84 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $93.07 and a 1-year high of $334.86. The firm’s fifty day simple moving average is $193.17 and its 200-day simple moving average is $210.75. The company has a market capitalization of $69.81 billion, a P/E ratio of 47.58 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for 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%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. Sell-side analysts forecast 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 analysts recently commented on COIN shares. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Barclays raised their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $246.28.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the period. Fifth Third Bancorp lifted its position in Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% during 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 during the period. Finally, Larson Financial Group LLC grew its position in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.