Coinbase Global, Inc. (NASDAQ:COIN) COO Sells $322,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total transaction of $322,500.00. Following the completion of the transaction, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Emilie Choi also recently made the following trade(s):

• On Monday, April 15th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00.
• On Thursday, March 28th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $260.00, for a total value of $390,000.00.
• On Thursday, March 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The stock was sold at an average price of $245.00, for a total value of $367,500.00.
• On Friday, February 2nd, Emilie Choi sold 700 shares of Coinbase Global stock. The shares were sold at an average price of $130.29, for a total value of $91,203.00.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $223.25 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $236.37 and its two-hundred day moving average is $165.79. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the prior year, the business posted ($2.46) earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global in the 4th quarter worth $147,646,000. Morgan Stanley increased its stake in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Hamilton Lane Advisors LLC bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after acquiring an additional 430,546 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research analyst reports. Wedbush increased their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Citigroup lifted their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Canaccord Genuity Group increased their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $185.48.

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.