Coinbase Global (NASDAQ:COIN) CAO Sells 869 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 869 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $259.93, for a total value of $225,879.17. Following the transaction, the chief accounting officer owned 1,787 shares in the company, valued at $464,494.91. This trade represents a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coinbase Global Trading Up 6.5%

Shares of NASDAQ COIN traded up $15.56 during trading on Monday, reaching $255.97. The stock had a trading volume of 9,865,368 shares, compared to its average volume of 10,966,625. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The business’s 50-day moving average price is $327.03 and its 200-day moving average price is $317.14. The company has a market cap of $69.02 billion, a P/E ratio of 22.14 and a beta of 3.67.

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

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of the business. Evelyn Partners Investment Management Europe Ltd grew its position in 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 purchasing an additional 36 shares during the last quarter. REAP Financial Group LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in shares of Coinbase Global during the third quarter worth about $29,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 2nd quarter valued at about $30,000. Finally, Salomon & Ludwin LLC raised its stake in Coinbase Global by 4,400.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on COIN. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and raised their target price for the company from $300.00 to $425.00 in a report on Thursday, October 30th. Cantor Fitzgerald cut their price objective on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. B. Riley increased their target price on shares of Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Rosenblatt Securities upped their price objective on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $398.08.

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.