Coinbase Global, Inc. (NASDAQ:COIN) Insider Lawrence J. Brock Sells 16,456 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 16,456 shares of Coinbase Global stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the completion of the transaction, the insider now directly owns 16,140 shares in the company, valued at $3,604,707.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Coinbase Global Trading Up 8.6 %

Shares of NASDAQ:COIN traded up $18.79 during mid-day trading on Friday, reaching $237.65. The stock had a trading volume of 10,249,246 shares, compared to its average volume of 8,954,198. The firm has a market cap of $58.36 billion, a PE ratio of 47.44 and a beta of 3.46. The firm has a 50 day simple moving average of $232.51 and a two-hundred day simple moving average of $180.13. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, research analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

Several hedge funds have recently bought and sold shares of COIN. Geneos Wealth Management Inc. grew its stake in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Mather Group LLC. bought a new stake in Coinbase Global during the first quarter worth about $32,000. Barrett & Company Inc. acquired a new position in Coinbase Global during the fourth quarter worth about $26,000. Finally, Creekmur Asset Management LLC acquired a new position in Coinbase Global during the fourth quarter worth about $27,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on COIN shares. Canaccord Genuity Group lifted their target price on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler upped their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $110.00 to $217.00 in a report on Friday, May 17th. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $214.67.

About Coinbase Global

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.