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

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Coinbase Global Stock Down 2.1 %

NASDAQ COIN opened at $278.84 on Friday. The stock’s 50 day simple moving average is $193.17 and its 200 day simple moving average is $210.75. 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, Inc. has a one year low of $93.07 and a one year high of $334.86. The firm has a market cap of $69.81 billion, a PE ratio of 47.58 and a beta of 3.34.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Barclays lifted their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Mizuho upped their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $246.28.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the stock. APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global during the first quarter valued at approximately $108,434,000. Empowered Funds LLC boosted its position in Coinbase Global by 40.8% in the 1st quarter. Empowered Funds LLC now owns 4,989 shares of the cryptocurrency exchange’s stock valued at $1,323,000 after buying an additional 1,445 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Coinbase Global in the 1st quarter valued at $1,241,000. Sei Investments Co. increased its stake in shares of Coinbase Global by 41.7% in the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after buying an additional 2,920 shares during the period. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Coinbase Global by 13.5% during the first quarter. Meeder Advisory Services Inc. now owns 1,532 shares of the cryptocurrency exchange’s stock valued at $406,000 after acquiring an additional 182 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.