Insider Buying: Coinbase Global, Inc. (NASDAQ:COIN) Director Buys $382,360.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke acquired 6,952 shares of the stock in a transaction on Tuesday, November 15th. The stock was bought at an average cost of $55.00 per share, with a total value of $382,360.00. Following the completion of the transaction, the director now owns 106,898 shares in the company, valued at $5,879,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tobias Lutke also recently made the following trade(s):

  • On Tuesday, November 8th, Tobias Lutke acquired 6,495 shares of Coinbase Global stock. The stock was bought at an average cost of $54.50 per share, with a total value of $353,977.50.
  • On Tuesday, November 1st, Tobias Lutke purchased 5,585 shares of Coinbase Global stock. The stock was acquired at an average price of $68.99 per share, with a total value of $385,309.15.
  • On Tuesday, October 25th, Tobias Lutke purchased 5,573 shares of Coinbase Global stock. The stock was acquired at an average price of $66.96 per share, with a total value of $373,168.08.
  • On Tuesday, October 18th, Tobias Lutke purchased 5,349 shares of Coinbase Global stock. The stock was acquired at an average price of $72.90 per share, with a total value of $389,942.10.
  • On Tuesday, October 11th, Tobias Lutke purchased 5,519 shares of Coinbase Global stock. The stock was acquired at an average price of $67.61 per share, with a total value of $373,139.59.
  • On Tuesday, October 4th, Tobias Lutke purchased 5,610 shares of Coinbase Global stock. The stock was acquired at an average price of $69.09 per share, with a total value of $387,594.90.
  • On Tuesday, September 27th, Tobias Lutke purchased 5,941 shares of Coinbase Global stock. The stock was acquired at an average price of $65.29 per share, with a total value of $387,887.89.
  • On Tuesday, September 20th, Tobias Lutke acquired 5,291 shares of Coinbase Global stock. The shares were purchased at an average price of $68.19 per share, with a total value of $360,793.29.
  • On Tuesday, September 13th, Tobias Lutke acquired 4,482 shares of Coinbase Global stock. The shares were purchased at an average price of $75.39 per share, with a total value of $337,897.98.
  • On Wednesday, September 7th, Tobias Lutke acquired 5,894 shares of Coinbase Global stock. The shares were purchased at an average price of $62.00 per share, with a total value of $365,428.00.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $45.26 on Friday. The company’s fifty day moving average price is $64.77 and its 200 day moving average price is $67.38. Coinbase Global, Inc. has a 1 year low of $40.83 and a 1 year high of $339.41. The company has a market capitalization of $10.27 billion, a PE ratio of -7.46 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05.

Analyst Ratings Changes

Several research firms recently commented on COIN. Daiwa Capital Markets lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $82.00 to $52.00 in a research note on Wednesday, November 9th. Barclays dropped their target price on shares of Coinbase Global from $77.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Friday, November 4th. DA Davidson dropped their target price on shares of Coinbase Global from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities dropped their target price on shares of Coinbase Global from $195.00 to $155.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 11th. Finally, Atlantic Securities boosted their target price on shares of Coinbase Global from $54.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.70.

Institutional Trading of Coinbase Global

Hedge funds have recently added to or reduced their stakes in the company. WD Rutherford LLC purchased a new stake in Coinbase Global during the first quarter worth $28,000. Cullen Frost Bankers Inc. raised its position in Coinbase Global by 555.6% during the first quarter. Cullen Frost Bankers Inc. now owns 295 shares of the cryptocurrency exchange’s stock worth $56,000 after acquiring an additional 250 shares during the period. WASHINGTON TRUST Co raised its position in Coinbase Global by 100.0% during the first quarter. WASHINGTON TRUST Co now owns 300 shares of the cryptocurrency exchange’s stock worth $56,000 after acquiring an additional 150 shares during the period. Lazard Asset Management LLC raised its position in Coinbase Global by 3,355.6% during the first quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock worth $59,000 after acquiring an additional 302 shares during the period. Finally, BDO Wealth Advisors LLC raised its position in Coinbase Global by 133.5% during the third quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock worth $25,000 after acquiring an additional 223 shares during the period. 49.31% of the stock is owned by hedge funds and other institutional investors.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

See Also

Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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