Key Points
- CAO Jennifer Jones sold 869 shares of Coinbase on November 20 at an average price of $259.93 for about $225,879, cutting her holding by 32.72% to 1,787 shares (valued ≈ $464,495).
- Coinbase beat expectations for the quarter with EPS of $1.44 (vs. $1.04 est.) and revenue of $1.87 billion, up 55.1% year-over-year and a net margin of 41.99%.
- Analysts maintain a generally positive view—MarketBeat shows an average rating of "Moderate Buy" with an average price target of $398.08, while individual targets range roughly from $314 to $479.30.
Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 869 shares of the firm's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $259.93, for a total value of $225,879.17. Following the transaction, the chief accounting officer owned 1,787 shares in the company, valued at approximately $464,494.91. This trade represents a 32.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Coinbase Global Stock Performance
Shares of COIN stock opened at $255.97 on Tuesday. The stock has a market cap of $69.02 billion, a PE ratio of 22.14 and a beta of 3.67. The stock has a 50-day moving average of $325.61 and a 200-day moving average of $317.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business's revenue for the quarter was up 55.1% on a year-over-year basis. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently commented on COIN. Mizuho upped their price objective on shares of Coinbase Global from $300.00 to $320.00 and gave the company a "neutral" rating in a research report on Friday, October 31st. China Renaissance boosted their target price on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. The Goldman Sachs Group lowered their price target on Coinbase Global from $368.00 to $314.00 and set a "neutral" rating for the company in a report on Friday. Piper Sandler reissued a "neutral" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $398.08.
Get Our Latest Stock Analysis on Coinbase Global
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in COIN. Bessemer Group Inc. increased its position in Coinbase Global by 672.2% during the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange's stock worth $408,000 after buying an additional 1,015 shares during the last quarter. SP Asset Management LLC bought a new stake in Coinbase Global in the 2nd quarter valued at $360,000. Kera Capital Partners Inc. lifted its holdings in Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock valued at $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock valued at $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Coinbase Global by 890.8% in the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange's stock valued at $11,033,000 after purchasing an additional 28,302 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.
Coinbase Global Company Profile
(
Get Free Report)
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.
Further Reading
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