Coinbase Global, Inc. (NASDAQ:COIN)’s stock price rose 4.2% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $55.35 and last traded at $55.26. Approximately 1,634,804 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 16,492,461 shares. The stock had previously closed at $53.02.Specifically, CFO Alesia J. Haas sold 103,859 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $42.44, for a total value of $4,407,775.96. Following the completion of the sale, the chief financial officer now owns 92,317 shares of the company’s stock, valued at approximately $3,917,933.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Tobias Lutke bought 5,585 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was purchased at an average price of $68.99 per share, with a total value of $385,309.15. Following the completion of the transaction, the director now directly owns 93,451 shares of the company’s stock, valued at $6,447,184.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 103,859 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $42.44, for a total value of $4,407,775.96. Following the sale, the chief financial officer now directly owns 92,317 shares of the company’s stock, valued at approximately $3,917,933.48. The disclosure for this sale can be found here. In the last quarter, insiders bought 109,416 shares of company stock valued at $4,855,164 and sold 560,244 shares valued at $23,892,552. 36.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Compass Point decreased their target price on Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. Bank of America lowered Coinbase Global from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $50.00 to $35.00 in a report on Wednesday, January 11th. Wedbush cut their price target on Coinbase Global from $100.00 to $75.00 in a report on Friday, November 4th. Cowen lowered Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a report on Thursday, January 5th. Finally, BTIG Research cut their price target on Coinbase Global from $220.00 to $110.00 in a report on Friday, November 4th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.04.
Coinbase Global Stock Up 15.7 %
The firm has a fifty day moving average price of $42.62 and a 200 day moving average price of $59.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The company has a market cap of $13.93 billion, a P/E ratio of -10.11 and a beta of 2.16.
Coinbase Global (NASDAQ:COIN – Get Rating) last announced its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). The business had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. Equities research analysts forecast that Coinbase Global, Inc. will post -11.75 earnings per share for the current year.
Institutional Trading of Coinbase Global
Several large investors have recently made changes to their positions in the business. Strategic Wealth Investment Group LLC grew its holdings in shares of Coinbase Global by 22.6% during the fourth quarter. Strategic Wealth Investment Group LLC now owns 8,989 shares of the cryptocurrency exchange’s stock worth $451,000 after purchasing an additional 1,660 shares during the last quarter. AJ Wealth Strategies LLC boosted its holdings in Coinbase Global by 27.0% in the fourth quarter. AJ Wealth Strategies LLC now owns 18,886 shares of the cryptocurrency exchange’s stock valued at $668,000 after acquiring an additional 4,012 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Coinbase Global by 2,842.8% in the fourth quarter. Lindbrook Capital LLC now owns 64,800 shares of the cryptocurrency exchange’s stock valued at $2,293,000 after acquiring an additional 62,598 shares during the last quarter. Stonegate Investment Group LLC bought a new position in Coinbase Global in the fourth quarter valued at about $317,000. Finally, ARK Investment Management LLC boosted its holdings in Coinbase Global by 19.0% in the fourth quarter. ARK Investment Management LLC now owns 9,189,273 shares of the cryptocurrency exchange’s stock valued at $325,208,000 after acquiring an additional 1,469,638 shares during the last quarter. Institutional investors own 46.41% of the company’s stock.
Coinbase Global Company Profile
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.
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