Alesia J. Haas Sells 7,575 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Coinbase Global Stock Down 7.8 %

Shares of NASDAQ COIN opened at $173.93 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $239.36 and a 200 day moving average of $241.64. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The stock has a market cap of $44.16 billion, a PE ratio of 18.31 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. HC Wainwright reiterated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Bank of America decreased their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Mizuho dropped their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, JMP Securities raised their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC grew its stake in shares of Coinbase Global by 11.0% in the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after buying an additional 1,393 shares during the period. Swedbank AB grew its holdings in shares of Coinbase Global by 1.6% during the 3rd quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock worth $8,233,000 after purchasing an additional 730 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Coinbase Global by 12.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,464 shares of the cryptocurrency exchange’s stock worth $2,577,000 after purchasing an additional 1,600 shares during the last quarter. DRW Securities LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $355,000. Finally, Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

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.