Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson Sells 40,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at $15,000,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coinbase Global Stock Down 1.6 %

COIN opened at $319.13 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $88.62 and a fifty-two week high of $334.86. The firm has a market capitalization of $79.89 billion, a P/E ratio of 54.46 and a beta of 3.34. The company’s 50-day moving average is $187.74 and its 200 day moving average is $209.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. The business’s revenue was up 78.8% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently made changes to their positions in COIN. Global Retirement Partners LLC increased its holdings in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $2,908,000. Intech Investment Management LLC lifted its stake in Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC increased their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $246.28.

About Coinbase Global

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.