Jennifer N. Jones Sells 450 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Coinbase Global Stock Performance

NASDAQ COIN opened at $224.94 on Friday. The company’s 50 day moving average is $227.71 and its 200-day moving average is $203.62. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market cap of $55.24 billion, a P/E ratio of 44.90 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Sell-side analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Mizuho raised their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Friday, May 3rd. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $215.50.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently bought and sold shares of the company. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after acquiring an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Coinbase Global by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares in the last quarter. Nilsine Partners LLC grew its stake in Coinbase Global by 1.2% during the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after acquiring an additional 81 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Finally, Concord Wealth Partners grew 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 acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.