Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $4,407,775.96 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 103,859 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $42.44, for a total value of $4,407,775.96. Following the completion of the transaction, the chief financial officer now owns 92,317 shares of the company’s stock, valued at approximately $3,917,933.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coinbase Global Stock Performance

NASDAQ COIN opened at $45.57 on Friday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of -7.51 and a beta of 2.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $62.64 and a 200-day moving average price of $65.46. Coinbase Global, Inc. has a twelve month low of $40.61 and a twelve month high of $331.70.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). The business had revenue of $590.34 million during the quarter, compared to the consensus estimate of $642.76 million. Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. As a group, equities research analysts predict that Coinbase Global, Inc. will post -11.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent analyst reports. Bank of America cut Coinbase Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $50.00 in a research note on Friday, November 18th. Keefe, Bruyette & Woods lowered Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a report on Wednesday, August 10th. Daiwa Capital Markets lowered Coinbase Global from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $82.00 to $52.00 in a report on Wednesday, November 9th. The Goldman Sachs Group cut their price objective on Coinbase Global from $49.00 to $41.00 and set a “sell” rating for the company in a report on Monday, November 14th. Finally, Citigroup cut their price objective on Coinbase Global from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.17.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 19.8% in the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after buying an additional 2,110,196 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Coinbase Global in the second quarter worth about $326,251,000. Nikko Asset Management Americas Inc. lifted its position in shares of Coinbase Global by 34.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 6,606,262 shares of the cryptocurrency exchange’s stock worth $312,366,000 after buying an additional 1,701,828 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Coinbase Global by 304.3% in the second quarter. Renaissance Technologies LLC now owns 4,253,200 shares of the cryptocurrency exchange’s stock worth $199,985,000 after buying an additional 3,201,200 shares in the last quarter. Finally, Paradigm Operations LP lifted its position in shares of Coinbase Global by 45.6% in the second quarter. Paradigm Operations LP now owns 3,705,596 shares of the cryptocurrency exchange’s stock worth $174,237,000 after buying an additional 1,160,841 shares in the last quarter. Institutional investors own 49.31% of the company’s stock.

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.

Further Reading

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

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