Alesia Haas Sells 5,500 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 5,500 shares of Coinbase Global stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $273.62, for a total value of $1,504,910.00. Following the completion of the transaction, the chief financial officer directly owned 79,320 shares in the company, valued at approximately $21,703,538.40. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Stock Performance

Shares of COIN traded down $4.50 during mid-day trading on Wednesday, hitting $257.29. The company’s stock had a trading volume of 13,055,174 shares, compared to its average volume of 10,942,188. The stock’s 50-day moving average is $331.56 and its two-hundred day moving average is $316.13. The firm has a market capitalization of $69.38 billion, a PE ratio of 22.26 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS 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 analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $0.28 EPS. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after buying an additional 9,952 shares during the last quarter. CWM LLC boosted its holdings in shares of Coinbase Global by 14.1% in the 1st quarter. CWM LLC now owns 6,439 shares of the cryptocurrency exchange’s stock worth $1,109,000 after acquiring an additional 795 shares in the last quarter. Private Advisor Group LLC grew its position in Coinbase Global by 78.9% during the 1st quarter. Private Advisor Group LLC now owns 33,308 shares of the cryptocurrency exchange’s stock worth $5,737,000 after acquiring an additional 14,691 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Coinbase Global by 49.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,923 shares of the cryptocurrency exchange’s stock worth $848,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Coinbase Global by 3,893.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 34,583 shares of the cryptocurrency exchange’s stock valued at $5,956,000 after purchasing an additional 33,717 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research report on Tuesday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Barclays decreased their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Oppenheimer restated an “outperform” rating and issued a $417.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, President Capital lifted their price target on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $399.94.

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.