Coinbase Global (NASDAQ:COIN) CFO Alesia Haas Sells 8,050 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 8,050 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $250.00, for a total transaction of $2,012,500.00. Following the transaction, the chief financial officer owned 70,664 shares of the company’s stock, valued at approximately $17,666,000. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Coinbase Global Trading Up 0.8%

Shares of COIN traded up $1.87 during midday trading on Friday, hitting $241.15. The stock had a trading volume of 7,574,539 shares, compared to its average volume of 8,982,444. The business has a 50-day simple moving average of $258.13 and a two-hundred day simple moving average of $312.36. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a market cap of $65.02 billion, a P/E ratio of 20.86 and a beta of 3.70.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Coinbase Global by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares in the last quarter. Norges Bank bought a new position in shares of Coinbase Global during the second quarter worth about $1,044,354,000. Geode Capital Management LLC raised its position in Coinbase Global by 46.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after buying an additional 1,755,146 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Coinbase Global during the 3rd quarter worth approximately $224,663,000. Finally, Baillie Gifford & Co. bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $198,249,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COIN shares. Jefferies Financial Group decreased their price target on shares of Coinbase Global from $367.00 to $268.00 and set a “hold” rating on the stock in a research note on Monday. Argus restated a “hold” rating on shares of Coinbase Global in a report on Tuesday, November 25th. Bank of America raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 price target on the stock in a research note on Thursday, January 8th. Sanford C. Bernstein reissued an “outperform” rating and issued a $440.00 price target on shares of Coinbase Global in a report on Tuesday, January 6th. Finally, Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $362.72.

Check Out Our Latest Stock Report on COIN

Coinbase Global Company Profile

(Get Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

Further Reading

Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.