Coinbase Global (NASDAQ:COIN) Director Sells $3,014,600.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $301.46, for a total transaction of $3,014,600.00. Following the transaction, the director owned 204,973 shares in the company, valued at $61,791,160.58. The trade was a 4.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Coinbase Global Trading Down 0.0%

NASDAQ:COIN opened at $304.00 on Thursday. The company has a market capitalization of $81.97 billion, a P/E ratio of 26.30 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 12 month low of $142.58 and a 12 month high of $444.64. The firm has a fifty day simple moving average of $334.24 and a 200-day simple moving average of $313.42.

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

Hedge Funds Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the business. REAP Financial Group LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at approximately $25,000. Evelyn Partners Investment Management Europe Ltd increased its holdings in Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 36 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the first quarter worth $30,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global during the second quarter worth $30,000. Finally, Salomon & Ludwin LLC lifted its holdings in Coinbase Global by 4,400.0% during the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $385.00 to $368.00 in a research note on Friday, October 31st. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Monday. Keefe, Bruyette & Woods reduced their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a report on Monday, August 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $399.94.

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.