Jennifer N. Jones Sells 450 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 450 shares of Coinbase Global stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $380,530.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Coinbase Global Price Performance

Coinbase Global stock opened at $224.94 on Thursday. The business has a 50 day simple moving average of $227.68 and a 200 day simple moving average of $203.47. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a market capitalization of $55.24 billion, a PE ratio of 44.90 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of COIN. Transcend Capital Advisors LLC grew its holdings in shares of Coinbase Global by 34.9% during the second quarter. Transcend Capital Advisors LLC now owns 3,713 shares of the cryptocurrency exchange’s stock worth $825,000 after purchasing an additional 960 shares during the last quarter. Chelsea Counsel Co. bought a new stake in Coinbase Global during the 1st quarter worth about $45,000. DekaBank Deutsche Girozentrale increased its position in Coinbase Global by 5.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $7,075,000 after acquiring an additional 1,349 shares in the last quarter. EULAV Asset Management bought a new position in shares of Coinbase Global in the first quarter worth about $13,521,000. Finally, Cetera Advisors LLC lifted its position in shares of Coinbase Global by 49.2% during the first quarter. Cetera Advisors LLC now owns 10,911 shares of the cryptocurrency exchange’s stock worth $2,893,000 after purchasing an additional 3,597 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on COIN. Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Wednesday, June 5th. Finally, The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $215.50.

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.