Alesia J. Haas Sells 20,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now directly owns 124,470 shares in the company, valued at approximately $37,341,000. The trade was a 13.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Coinbase Global Stock Performance

COIN opened at $295.48 on Friday. The stock’s 50 day simple moving average is $291.21 and its 200-day simple moving average is $231.26. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results 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). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Barclays boosted their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $282.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Red Door Wealth Management LLC acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $304,000. Avior Wealth Management LLC lifted its position in shares of Coinbase Global by 7.8% during the 4th quarter. Avior Wealth Management LLC now owns 965 shares of the cryptocurrency exchange’s stock worth $240,000 after buying an additional 70 shares during the period. Dakota Wealth Management acquired a new stake in Coinbase Global in the 4th quarter valued at $509,000. Simon Quick Advisors LLC raised its stake in Coinbase Global by 8.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,122 shares of the cryptocurrency exchange’s stock worth $527,000 after acquiring an additional 166 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $265,000. Institutional investors and hedge funds 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.