Coinbase Global (NASDAQ:COIN) CAO Jennifer Jones Sells 1,787 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 1,787 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $244.49, for a total value of $436,903.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Coinbase Global Stock Up 4.3%

Coinbase Global stock opened at $264.97 on Thursday. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The business has a fifty day moving average price of $323.03 and a 200-day moving average price of $317.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a market capitalization of $71.45 billion, a price-to-earnings ratio of 22.92 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s revenue was up 55.1% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Cantor Fitzgerald dropped their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. China Renaissance upped their target price on Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. JPMorgan Chase & Co. cut their price target on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Argus restated a “hold” rating on shares of Coinbase Global in a research note on Tuesday. Finally, Erste Group Bank downgraded shares of Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $398.08.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in COIN. REAP Financial Group LLC purchased a new stake in Coinbase Global during the third quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd boosted its stake in shares of Coinbase Global by 92.3% during 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. Palisade Asset Management LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at about $29,000. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global in the 1st quarter worth about $30,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 2nd quarter worth about $30,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.