Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $430,897.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 1,741 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $247.50, for a total transaction of $430,897.50. Following the completion of the sale, the chief financial officer now directly owns 10,450 shares in the company, valued at $2,586,375. This trade represents a 14.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Coinbase Global Price Performance

Shares of COIN stock traded up $41.44 during trading hours on Wednesday, hitting $295.29. 37,219,636 shares of the company's stock were exchanged, compared to its average volume of 10,241,131. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The stock has a market cap of $74.97 billion, a price-to-earnings ratio of 55.30, a price-to-earnings-growth ratio of 19.06 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The stock's 50-day moving average is $224.90 and its 200-day moving average is $240.73.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company earned $2.53 EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on COIN shares. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Oppenheimer set a $293.00 price objective on Coinbase Global in a report on Thursday, May 15th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, Rosenblatt Securities restated a "buy" rating and set a $300.00 target price on shares of Coinbase Global in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $271.88.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after purchasing an additional 40 shares in the last quarter. IPG Investment Advisors LLC boosted its position in Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after buying an additional 45 shares during the last quarter. Vivaldi Capital Management LP increased its stake in shares of Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after buying an additional 47 shares during the period. Brooklyn Investment Group raised its position in shares of Coinbase Global by 7.1% during the first quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock worth $124,000 after acquiring an additional 48 shares during the last quarter. Finally, Rede Wealth LLC lifted its stake in shares of Coinbase Global by 0.6% during the first quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange's stock valued at $1,382,000 after acquiring an additional 50 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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