Coinbase Global (NASDAQ:COIN) Insider Lawrence Brock Sells 5,902 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence Brock sold 5,902 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $250.58, for a total transaction of $1,478,923.16. Following the completion of the transaction, the insider directly owned 497 shares in the company, valued at approximately $124,538.26. The trade was a 92.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $264.97 on Thursday. The company has a market cap of $71.45 billion, a PE ratio of 22.92 and a beta of 3.67. The business has a 50 day moving average price of $323.03 and a 200-day moving average price of $317.50. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue was up 55.1% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Institutional investors have recently modified their holdings of the business. REAP Financial Group LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $25,000. Evelyn Partners Investment Management Europe Ltd lifted its holdings in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $29,000. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global during the first quarter valued at approximately $30,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the 2nd quarter worth approximately $30,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COIN. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. Piper Sandler reissued a “neutral” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research report on Friday, October 3rd. Wall Street Zen lowered shares of Coinbase Global from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, BTIG Research boosted their target price on shares of Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $398.08.

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.