Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi Sells 1,500 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the sale, the chief operating officer now owns 204,436 shares in the company, valued at $40,049,012.40. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, April 30th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $215.00, for a total transaction of $322,500.00.
• On Monday, April 15th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were 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 transaction of $390,000.00.
• On Thursday, March 14th, Emilie Choi sold 1,500 shares of Coinbase Global stock. The shares were sold at an average price of $245.00, for a total transaction of $367,500.00.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded down $16.61 on Thursday, hitting $203.30. 6,862,855 shares of the company were exchanged, compared to its average volume of 12,735,592. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The stock’s 50 day moving average price is $236.34 and its 200 day moving average price is $173.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $49.92 billion, a P/E ratio of 41.55 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same period in the previous year, the firm posted ($2.46) earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Vanguard Group Inc. lifted its position in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Norges Bank purchased a new position in Coinbase Global in the fourth quarter valued at $202,936,000. a16z Perennial Management L.P. purchased a new position in Coinbase Global in the fourth quarter valued at $147,646,000. Morgan Stanley increased its holdings in Coinbase Global by 18.5% in 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 in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in Coinbase Global in the fourth quarter valued at $88,015,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on COIN. Sanford C. Bernstein upped their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Needham & Company LLC cut their price target on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, Wedbush upped their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $208.72.

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.