Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $1,515,000.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at $22,973,200. The trade was a 6.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded down $10.28 on Wednesday, reaching $193.95. The company’s stock had a trading volume of 6,985,304 shares, compared to its average volume of 9,623,827. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a market capitalization of $49.24 billion, a P/E ratio of 20.42 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $245.27 and a 200-day moving average price of $242.22.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of COIN. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Norges Bank purchased a new stake in Coinbase Global during the fourth quarter worth about $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $372,450,000. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after purchasing an additional 333,600 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on COIN shares. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Bank of America lowered their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Finally, Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $314.72.

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.