Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $5,571,628.72 in Stock

by · The Markets Daily

Coinbase Global, Inc. (NASDAQ:COIN) Director Marc L. Andreessen sold 33,992 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $764,148.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Coinbase Global Price Performance

Shares of COIN stock opened at $153.98 on Friday. The company has a market capitalization of $36.84 billion, a PE ratio of -47.67 and a beta of 3.17. The firm has a fifty day simple moving average of $128.83 and a 200-day simple moving average of $97.54. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a twelve month low of $31.55 and a twelve month high of $187.39.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Thursday, November 2nd. The cryptocurrency exchange reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.53. The business had revenue of $674.15 million during the quarter, compared to the consensus estimate of $656.61 million. Coinbase Global had a negative net margin of 26.42% and a negative return on equity of 10.90%. Equities research analysts anticipate that Coinbase Global, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in Coinbase Global by 3,355.6% during the 1st quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock valued at $59,000 after acquiring an additional 302 shares during the last quarter. Tyler Stone Wealth Management bought a new position in Coinbase Global during the 2nd quarter valued at $31,000. Covestor Ltd boosted its stake in Coinbase Global by 9,516.7% during the 1st quarter. Covestor Ltd now owns 577 shares of the cryptocurrency exchange’s stock valued at $110,000 after acquiring an additional 571 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Coinbase Global by 231.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 597 shares of the cryptocurrency exchange’s stock valued at $40,000 after acquiring an additional 417 shares during the last quarter. Finally, Indiana Trust & Investment Management CO bought a new position in Coinbase Global during the 3rd quarter valued at $50,000. 45.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of Coinbase Global in a research note on Tuesday, November 7th. Bank of America dropped their price target on shares of Coinbase Global from $63.00 to $60.00 in a research report on Thursday, October 12th. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $55.00 to $123.00 and gave the stock a “sell” rating in a research report on Thursday, December 7th. Citigroup dropped their price target on shares of Coinbase Global from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Finally, Barclays dropped their price target on shares of Coinbase Global from $70.00 to $68.00 and set an “underweight” rating for the company in a research report on Tuesday, October 10th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.00.

Get Our Latest Report on COIN

About Coinbase Global

(Get Free Report)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.

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