Emilie Choi Sells 8,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the transaction, the chief operating officer now directly owns 189,101 shares in the company, valued at $33,298,795.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Emilie Choi also recently made the following trade(s):

• On Friday, August 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00.
• On Wednesday, July 31st, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00.
• On Monday, July 15th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $229.70, for a total transaction of $344,550.00.
• On Monday, July 1st, Emilie Choi sold 8,000 shares of Coinbase Global stock. The shares were sold at an average price of $232.24, for a total transaction of $1,857,920.00.
• On Friday, June 28th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $223.95, for a total transaction of $335,925.00.
• On Friday, June 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $246.16, for a total transaction of $369,240.00.

Coinbase Global Trading Down 2.2 %

NASDAQ:COIN opened at $159.70 on Friday. The stock’s 50 day moving average price is $212.46 and its 200 day moving average price is $223.79. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company has a market capitalization of $39.22 billion, a P/E ratio of 31.88 and a beta of 3.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted ($0.42) EPS. The company’s quarterly revenue was up 104.8% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 4.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Coinbase Global in the second quarter worth approximately $2,908,000. SRN Advisors LLC grew its holdings in Coinbase Global by 10.9% during the second quarter. SRN Advisors LLC now owns 12,774 shares of the cryptocurrency exchange’s stock valued at $2,839,000 after purchasing an additional 1,259 shares during the last quarter. Heritage Oak Wealth Advisors LLC acquired a new position in Coinbase Global during the second quarter valued at approximately $462,000. Cetera Investment Advisers grew its holdings in Coinbase Global by 9.1% during the second quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange’s stock valued at $6,291,000 after purchasing an additional 2,371 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in Coinbase Global during the second quarter valued at approximately $5,476,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. HC Wainwright decreased their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Bank of America reduced their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $248.38.

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.