Coinbase Global, Inc. (NASDAQ:COIN) Insider Lawrence J. Brock Sells 14,207 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 14,207 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $57.83, for a total value of $821,590.81. Following the sale, the insider now directly owns 14,757 shares in the company, valued at $853,397.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Coinbase Global Trading Up 0.1 %

Coinbase Global stock traded up $0.05 during trading on Friday, reaching $56.92. 7,782,828 shares of the company were exchanged, compared to its average volume of 17,659,105. Coinbase Global, Inc. has a 52-week low of $31.55 and a 52-week high of $116.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $13.35 billion, a P/E ratio of -5.64 and a beta of 2.58. The stock’s 50 day simple moving average is $62.00 and its two-hundred day simple moving average is $54.92.

Coinbase Global (NASDAQ:COIN – Get Rating) last posted its earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.07). Coinbase Global had a negative net margin of 81.21% and a negative return on equity of 38.28%. The business had revenue of $629.10 million during the quarter, compared to analysts’ expectations of $587.37 million. During the same quarter in the prior year, the firm earned $3.32 EPS. Coinbase Global’s revenue for the quarter was down 74.7% compared to the same quarter last year. On average, equities research analysts expect that Coinbase Global, Inc. will post -1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HC Wainwright began coverage on Coinbase Global in a research report on Wednesday, April 26th. They set a “buy” rating and a $75.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Coinbase Global from $40.00 to $43.00 in a research report on Friday, May 5th. Berenberg Bank began coverage on Coinbase Global in a research report on Monday, May 15th. They set a “hold” rating and a $55.00 price objective on the stock. Citigroup cut Coinbase Global from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $65.00 in a report on Monday, May 1st. Finally, Needham & Company LLC lowered their price target on Coinbase Global from $73.00 to $70.00 in a report on Monday, May 1st. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $60.52.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mizuho Markets Americas LLC raised its holdings in shares of Coinbase Global by 9,130.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 4,504,355 shares of the cryptocurrency exchange’s stock valued at $162,427,000 after buying an additional 4,455,557 shares during the period. ARK Investment Management LLC raised its holdings in shares of Coinbase Global by 28.1% in the 1st quarter. ARK Investment Management LLC now owns 11,776,015 shares of the cryptocurrency exchange’s stock valued at $795,705,000 after buying an additional 2,586,742 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 19.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock valued at $824,587,000 after buying an additional 2,110,196 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Coinbase Global by 34.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 7,000,410 shares of the cryptocurrency exchange’s stock valued at $247,675,000 after buying an additional 1,801,194 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Coinbase Global by 32.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,310,461 shares of the cryptocurrency exchange’s stock valued at $258,717,000 after buying an additional 1,775,711 shares during the period. Hedge funds and other institutional investors own 46.41% of the company’s stock.

About Coinbase Global

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