Alesia J. Haas Sells 20,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief financial officer now owns 124,470 shares in the company, valued at $37,341,000. This represents a 13.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Coinbase Global Stock Up 4.9 %

NASDAQ COIN opened at $295.48 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The stock has a fifty day moving average of $291.21 and a 200-day moving average of $231.31. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. One investment 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 MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $282.83.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in Coinbase Global during the 2nd quarter worth approximately $422,000. Envestnet Asset Management Inc. increased its position in Coinbase Global by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock worth $9,966,000 after buying an additional 5,767 shares during the last quarter. Wealth Alliance bought a new stake in Coinbase Global in the second quarter valued at approximately $230,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Coinbase Global by 26.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,118 shares of the cryptocurrency exchange’s stock valued at $2,697,000 after buying an additional 2,565 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Coinbase Global by 6.6% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,570 shares of the cryptocurrency exchange’s stock worth $571,000 after acquiring an additional 160 shares during the period. 68.84% of the stock is currently owned by institutional investors.

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.