Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) COO Sells 1,500 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $179.69, for a total value of $269,535.00. Following the completion of the transaction, the chief operating officer now directly owns 186,101 shares in the company, valued at $33,440,488.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Emilie Choi also recently made the following trade(s):

• On Friday, September 13th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00.
• On Tuesday, September 3rd, Emilie Choi sold 8,000 shares of Coinbase Global stock. The shares were sold at an average price of $176.09, for a total transaction of $1,408,720.00.
• On Friday, August 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $188.94, for a total transaction of $283,410.00.
• On Wednesday, July 31st, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $233.00, for a total value of $349,500.00.
• On Monday, July 15th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $229.70, for a total value of $344,550.00.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $170.91 on Friday. The company has a market cap of $41.97 billion, a PE ratio of 34.11 and a beta of 3.35. Coinbase Global, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $283.48. The firm has a 50-day simple moving average of $185.19 and a 200 day simple moving average of $217.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period last year, the company posted ($0.42) earnings per share. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COIN shares. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. Finally, Bank of America dropped their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $246.06.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Coinbase Global by 25.1% in the 4th quarter. Wells Fargo & Company MN now owns 45,785 shares of the cryptocurrency exchange’s stock valued at $7,963,000 after purchasing an additional 9,194 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Coinbase Global by 18.4% during the fourth quarter. Franklin Resources Inc. now owns 7,447 shares of the cryptocurrency exchange’s stock valued at $1,295,000 after buying an additional 1,156 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Coinbase Global by 540.4% during the fourth quarter. Hsbc Holdings PLC now owns 44,977 shares of the cryptocurrency exchange’s stock worth $7,829,000 after buying an additional 37,954 shares during the period. Alberta Investment Management Corp grew its holdings in Coinbase Global by 34.3% in the 4th quarter. Alberta Investment Management Corp now owns 4,700 shares of the cryptocurrency exchange’s stock worth $817,000 after buying an additional 1,200 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Coinbase Global by 3.0% in the 4th quarter. California State Teachers Retirement System now owns 270,307 shares of the cryptocurrency exchange’s stock valued at $47,012,000 after acquiring an additional 7,779 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.