Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CFO Sells $1,515,000.00 in Stock

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

Coinbase Global Stock Performance

COIN stock opened at $173.93 on Friday. The firm has a 50-day simple moving average of $239.36 and a two-hundred day simple moving average of $241.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research reports. Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after acquiring an additional 128,802 shares in the last quarter. Geode Capital Management LLC boosted its stake in Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after purchasing an additional 127,075 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the 3rd quarter worth approximately $409,919,000. Norges Bank acquired a new position in Coinbase Global during the 4th quarter valued at approximately $536,484,000. Finally, Groupama Asset Managment acquired a new stake in shares of Coinbase Global during the fourth quarter worth $372,450,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.