Frederick Wilson Sells 10,000 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the sale, the director owned 30,000 shares in the company, valued at approximately $5,446,200. The trade was a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Price Performance

NASDAQ COIN opened at $164.13 on Friday. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The stock has a market cap of $43.24 billion, a price-to-earnings ratio of 61.70, a PEG ratio of 5.65 and a beta of 3.32. The company’s 50 day moving average is $186.63 and its two-hundred day moving average is $207.97. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business posted $0.24 EPS. Coinbase Global’s revenue was down 30.5% on a year-over-year basis. As a group, research analysts anticipate that Coinbase Global, Inc. will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of the stock. West Family Investments Inc. increased its position in shares of Coinbase Global by 3.3% during the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock valued at $347,000 after purchasing an additional 33 shares during the period. Waterfront Wealth Inc. increased its position in shares of Coinbase Global by 4.8% during the 3rd quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange’s stock valued at $241,000 after purchasing an additional 35 shares during the period. GW&K Investment Management LLC increased its position in shares of Coinbase Global by 32.2% during the 3rd quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock valued at $51,000 after purchasing an additional 37 shares during the period. Bridgewater Advisors Inc. increased its position in shares of Coinbase Global by 1.2% during the 3rd quarter. Bridgewater Advisors Inc. now owns 3,307 shares of the cryptocurrency exchange’s stock valued at $1,116,000 after purchasing an additional 38 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in shares of Coinbase Global by 2.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,229 shares of the cryptocurrency exchange’s stock valued at $752,000 after purchasing an additional 44 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canaccord Genuity Group decreased their target price on shares of Coinbase Global from $400.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein reduced their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn lifted their price objective on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Bank of America reduced their price objective on shares of Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $250.81.

More Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase launched pre-IPO perpetual futures for overseas customers, starting with SpaceX, giving users exposure to private-company valuations and potentially expanding Coinbase’s derivatives and international revenue opportunity. Article Title
• Positive Sentiment: Coinbase and Better Home & Finance completed the first Bitcoin-backed conventional mortgage in the U.S., with plans to roll out the product more broadly this summer. This could support a new use case for crypto collateral and broaden Coinbase’s product ecosystem. Article Title
• Positive Sentiment: Coinbase also expanded its stablecoin payments push through Checkout.com’s merchant network, which could increase real-world usage of USDC and USDT on Coinbase-related rails. Article Title
• Positive Sentiment: Coinbase relaunching in India with INR deposits/withdrawals and futures trading is another growth catalyst, potentially opening access to a very large crypto market. Article Title

Coinbase Global Company Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.