Coinbase Global (NASDAQ:COIN) CFO Alesia Haas Sells 4,400 Shares

Key Points

• Alesia Haas, the CFO of Coinbase Global, sold 4,400 shares of the company's stock for over $1.5 million, resulting in a 4.93% decrease in her position.
• Despite the insider sale, Coinbase's stock price increased by 1.7% recently, trading at around $336.02.
• The company reported disappointing earnings with an EPS of $0.12, missing the consensus estimate of $0.91, and a revenue of $1.50 billion compared to expectations of $1.68 billion.

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 4,400 shares of the business's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer owned 84,820 shares of the company's stock, valued at $29,212,856.20. This trade represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Coinbase Global Stock Up 1.7%

COIN stock traded up $5.77 during midday trading on Friday, reaching $336.02. 9,478,179 shares of the company's stock traded hands, compared to its average volume of 11,035,908. The company has a market cap of $86.34 billion, a price-to-earnings ratio of 32.50 and a beta of 3.68. The firm's fifty day moving average price is $327.75 and its 200-day moving average price is $291.54. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business's revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COIN. Bessemer Group Inc. increased its position in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd increased its position in shares of Coinbase Global by 92.3% in the second 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. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the second quarter worth approximately $30,000. Finally, S Bank Fund Management Ltd bought a new position in Coinbase Global during the first quarter valued at approximately $31,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on COIN. Barclays cut their price target on shares of Coinbase Global from $365.00 to $361.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. Citigroup upped their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Benchmark upped their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.94.

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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