Coinbase Global, Inc. (NASDAQ:COIN) CAO Sells $541,951.74 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Coinbase Global Stock Performance

Shares of COIN opened at $310.98 on Friday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $341.75. The firm has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34. The firm has a 50-day moving average price of $222.79 and a 200 day moving average price of $217.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The company’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the company. Crewe Advisors LLC lifted its holdings in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory acquired a new stake in Coinbase Global in the 2nd quarter valued at about $29,000. Versant Capital Management Inc boosted its position in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Finally, Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Monness Crespi & Hardt started coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. Barclays raised their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Oppenheimer upped their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.22.

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.