Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $254.89, for a total transaction of $2,548,900.00. Following the transaction, the director now directly owns 90,000 shares of the company's stock, valued at $22,940,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Coinbase Global Stock Performance
Shares of Coinbase Global stock traded down $5.11 during midday trading on Tuesday, hitting $319.13. The company had a trading volume of 24,429,445 shares, compared to its average volume of 10,834,742. The stock has a market cap of $79.89 billion, a price-to-earnings ratio of 54.03 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $187.74 and a 200 day simple moving average of $209.65. Coinbase Global, Inc. has a 12-month low of $88.62 and a 12-month high of $334.86.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.26 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. The business's quarterly revenue was up 78.8% compared to the same quarter last year. As a group, analysts predict 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 and other institutional investors have recently made changes to their positions in COIN. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock valued at $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory purchased a new position in shares of Coinbase Global in the second quarter valued at approximately $29,000. Versant Capital Management Inc boosted its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock valued at $30,000 after purchasing an additional 57 shares during the period. ORG Wealth Partners LLC purchased a new position in Coinbase Global in the third quarter worth approximately $32,000. Finally, Spirit of America Management Corp NY purchased a new position in Coinbase Global in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on COIN. Barclays raised their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Canaccord Genuity Group restated a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a "buy" rating and a $245.00 target price on the stock. Needham & Company LLC increased their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. One 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. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and a consensus target price of $246.28.
Check Out Our Latest Research Report on COIN
Coinbase Global Company Profile
(
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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.
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