Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CAO Sells 8,197 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 8,197 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $62.12, for a total transaction of $509,197.64. Following the transaction, the chief accounting officer now directly owns 34,752 shares of the company’s stock, valued at approximately $2,158,794.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coinbase Global Price Performance

Shares of COIN stock opened at $58.96 on Tuesday. Coinbase Global, Inc. has a 1 year low of $31.55 and a 1 year high of $206.79. The firm’s 50 day moving average is $51.91 and its 200-day moving average is $58.25. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of -4.98 and a beta of 2.71. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Coinbase Global (NASDAQ:COIN – Get Rating) last announced its earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.07). Coinbase Global had a negative return on equity of 44.89% and a negative net margin of 82.18%. The company had revenue of $629.10 million for the quarter, compared to analyst estimates of $587.37 million. During the same quarter in the previous year, the company posted $3.32 earnings per share. Coinbase Global’s revenue for the quarter was down 74.7% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post -4.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on COIN shares. Canaccord Genuity Group cut their price objective on shares of Coinbase Global from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. BTIG Research lowered their target price on shares of Coinbase Global from $220.00 to $110.00 in a research note on Friday, November 4th. Cowen cut shares of Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a research note on Thursday, January 5th. Piper Sandler upped their target price on shares of Coinbase Global from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $41.00 to $30.00 and set a “sell” rating on the stock in a research note on Monday, January 9th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.54.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the business. Empowered Funds LLC acquired a new position in Coinbase Global in the third quarter valued at approximately $200,000. Private Advisor Group LLC lifted its holdings in Coinbase Global by 18.0% in the third quarter. Private Advisor Group LLC now owns 20,865 shares of the cryptocurrency exchange’s stock valued at $1,346,000 after buying an additional 3,186 shares during the period. Toronto Dominion Bank lifted its holdings in Coinbase Global by 2.8% in the third quarter. Toronto Dominion Bank now owns 32,944 shares of the cryptocurrency exchange’s stock valued at $2,124,000 after buying an additional 889 shares during the period. M&T Bank Corp acquired a new position in Coinbase Global in the second quarter valued at approximately $209,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Coinbase Global by 17.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,450 shares of the cryptocurrency exchange’s stock valued at $2,609,000 after buying an additional 5,923 shares during the period. 46.41% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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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.