Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 10,020 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the sale, the chief financial officer directly owned 377,201 shares of the company's stock, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Trading Up 2.6%
Shares of NASDAQ COIN opened at $211.68 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The firm has a market capitalization of $55.90 billion, a P/E ratio of 48.22, a P/E/G ratio of 4.60 and a beta of 3.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The company's 50 day simple moving average is $181.57 and its 200 day simple moving average is $239.78.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.86 billion. Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.Coinbase Global's revenue was down 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.68 EPS. On average, analysts predict that Coinbase Global, Inc. will post 2.81 EPS for the current year.
Trending Headlines about Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
Analyst Ratings Changes
A number of equities research analysts recently commented on COIN shares. Jefferies Financial Group upped their price objective on Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a report on Thursday, April 9th. China Renaissance decreased their target price on Coinbase Global from $301.50 to $223.20 and set a "buy" rating for the company in a research report on Monday, February 23rd. Piper Sandler upped their price target on Coinbase Global from $150.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Finally, Cantor Fitzgerald reduced their price objective on shares of Coinbase Global from $277.00 to $221.00 and set an "overweight" rating on the stock in a research note on Monday, February 9th. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $261.11.
Get Our Latest Research Report on Coinbase Global
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COIN. REAP Financial Group LLC bought a new stake in shares of Coinbase Global in the third quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Coinbase Global during the 3rd quarter valued at about $29,000. Salomon & Ludwin LLC grew its position in shares of Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange's stock valued at $30,000 after purchasing an additional 88 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $35,000. Finally, Cloud Capital Management LLC bought a new stake in Coinbase Global during the 3rd quarter worth approximately $36,000. 68.84% of the stock is owned by institutional investors and hedge funds.
About Coinbase Global
(
Get Free Report)
Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.
Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.
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