Lawrence Brock Sells 5,903 Shares of Coinbase Global (NASDAQ:COIN) Stock

Key Points

• Lawrence Brock, an insider at Coinbase Global, sold 5,903 shares of the company's stock at an average price of $311.37, resulting in a total sale value of $1,838,017.11, and reducing his ownership by 92.51%.
• Coinbase reported $0.12 EPS for the last quarter, missing the consensus estimate of $0.91, with revenues of $1.50 billion compared to expectations of $1.68 billion.
• Analyst ratings for Coinbase indicate a consensus of "Hold," with an average target price of $352.72, while Citigroup has set a new price target of $505.00 for the stock.

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence Brock sold 5,903 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares in the company, valued at $148,834.86. This trade represents a 92.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Coinbase Global Trading Up 0.8%

Coinbase Global stock traded up $2.48 during mid-day trading on Tuesday, hitting $308.48. The company's stock had a trading volume of 7,691,554 shares, compared to its average volume of 11,507,209. The company has a 50 day moving average of $346.88 and a 200-day moving average of $262.20. The stock has a market cap of $79.26 billion, a PE ratio of 29.83 and a beta of 3.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management bought a new stake in Coinbase Global during the fourth quarter valued at about $26,000. Bessemer Group Inc. boosted its position in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Evelyn Partners Investment Management Europe Ltd boosted its position in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange's stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the first quarter valued at about $30,000. Institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. William Blair began coverage on Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating on the stock. Citigroup increased their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Williams Trading set a $405.00 price target on Coinbase Global in a research report on Thursday, July 31st. Piper Sandler reissued a "neutral" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Argus began coverage on Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $352.72.

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.

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