Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) CAO Sells 450 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now directly 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 can be accessed through this hyperlink.

Coinbase Global Trading Down 1.1 %

COIN stock opened at $224.94 on Friday. The firm has a fifty day moving average price of $227.71 and a 200 day moving average price of $203.62. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $55.24 billion, a PE ratio of 44.90 and a beta of 3.40.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on COIN shares. Mizuho increased their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Piper Sandler increased their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Finally, Wedbush increased their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $215.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COIN. Envestnet Asset Management Inc. grew its holdings in shares of Coinbase Global by 55.0% in the third quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock valued at $3,579,000 after purchasing an additional 16,914 shares in the last quarter. Bank of Nova Scotia purchased a new position in Coinbase Global during the third quarter worth $450,000. Legal & General Group Plc boosted its stake in Coinbase Global by 2.3% during the third quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock worth $38,953,000 after buying an additional 11,730 shares during the period. Scotia Capital Inc. purchased a new position in Coinbase Global during the third quarter worth $218,000. Finally, Morgan Stanley boosted its stake in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.