Key Points
- Paul Grewal, Coinbase’s chief legal officer, sold 11,955 shares on Nov. 25 at an average price of $246.18 for about $2.94M, trimming his position by 13.62% to 75,811 shares (part of a recent pattern that included two prior 10,000‑share sales in September and October).
- Coinbase reported an earnings beat with $1.44 EPS vs. $1.04 expected and $1.87B revenue (up 55% YoY); the stock carries a market cap near $71.5B and a consensus "Moderate Buy" analyst target of $398.08.
Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 1,787 shares of Coinbase Global stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Coinbase Global Trading Up 4.3%
COIN stock opened at $264.97 on Thursday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The business's 50-day moving average is $323.03 and its 200 day moving average is $317.50. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a market cap of $71.45 billion, a price-to-earnings ratio of 22.92 and a beta of 3.67.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business's quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Analysts Set New Price Targets
COIN has been the subject of a number of recent analyst reports. Bank of America cut their price objective on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Rothschild Redb raised shares of Coinbase Global from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. HC Wainwright upgraded Coinbase Global from a "sell" rating to a "buy" rating and upped their price target for the stock from $300.00 to $425.00 in a research note on Thursday, October 30th. Benchmark reaffirmed a "buy" rating on shares of Coinbase Global in a research note on Friday, October 31st. Finally, Mizuho boosted their price objective on Coinbase Global from $300.00 to $320.00 and gave the company a "neutral" rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $398.08.
Check Out Our Latest Stock Report on COIN
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Cadent Capital Advisors LLC increased its holdings in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock worth $1,108,000 after acquiring an additional 30 shares during the period. Ameriflex Group Inc. increased its stake in shares of Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after purchasing an additional 30 shares during the period. Capital Advisors Wealth Management LLC increased its stake in shares of Coinbase Global by 2.0% in the third quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange's stock valued at $523,000 after purchasing an additional 30 shares during the period. Elevation Wealth Partners LLC raised its holdings in shares of Coinbase Global by 37.6% during the third quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange's stock valued at $39,000 after buying an additional 32 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in shares of Coinbase Global by 3.3% during the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock worth $347,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.
About Coinbase Global
(
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.
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