Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram Sells 400 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coinbase Global Price Performance

Coinbase Global stock opened at $220.21 on Friday. The firm has a market capitalization of $54.08 billion, a P/E ratio of 43.95 and a beta of 3.35. Coinbase Global, Inc. has a one year low of $70.42 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $180.16 and a 200-day moving average price of $211.67.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC lifted its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of Coinbase Global in the second quarter worth $29,000. Concord Wealth Partners boosted its stake in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on COIN. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Compass Point reduced their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Bank of America decreased their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Barclays boosted their price target on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $246.44.

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.