Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas Sells 5,700 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Coinbase Global Price Performance

Shares of COIN traded up $13.85 during trading hours on Friday, reaching $295.48. The company had a trading volume of 11,193,678 shares, compared to its average volume of 7,646,252. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The firm has a 50 day simple moving average of $290.71 and a 200-day simple moving average of $230.81. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently bought and sold shares of COIN. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter worth $409,919,000. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Azora Capital LP boosted its position in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global during the 3rd quarter valued at about $29,756,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Barclays lifted their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Piper Sandler increased their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Oppenheimer dropped their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Bank of America increased their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $282.83.

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.