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 stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $15,000,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coinbase Global Stock Performance

Shares of COIN stock opened at $284.72 on Thursday. The firm has a market capitalization of $71.28 billion, a price-to-earnings ratio of 49.50 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average of $190.74 and a 200 day moving average of $210.23. Coinbase Global, Inc. has a 1 year low of $89.79 and a 1 year high of $334.86.

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

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. grew its position in Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Renaissance Technologies LLC grew its position in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the period. American Century Companies Inc. grew its position in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global during the 1st quarter valued at about $108,434,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COIN shares. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their target price on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Monness Crespi & Hardt initiated coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. One equities research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $246.28.

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.