Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III acquired 706,554 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average price of $70.77 per share, with a total value of $50,002,826.58. Following the acquisition, the director now directly owns 706,554 shares in the company, valued at $50,002,826.58. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Coinbase Global stock opened at $70.00 on Wednesday. The firm’s 50 day moving average price is $145.52 and its 200-day moving average price is $211.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 52-week low of $40.83 and a 52-week high of $368.90. The company has a market cap of $15.36 billion and a P/E ratio of 7.46.
Coinbase Global (NASDAQ:COIN – Get Rating) last released its earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.48 billion. Coinbase Global had a return on equity of 42.39% and a net margin of 33.63%. The firm’s revenue for the quarter was down 35.2% on a year-over-year basis. During the same quarter last year, the business earned $3.05 earnings per share. As a group, equities research analysts forecast that Coinbase Global, Inc. will post -7.6 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in COIN. West Branch Capital LLC acquired a new stake in Coinbase Global in the 4th quarter worth approximately $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Coinbase Global in the 4th quarter worth approximately $25,000. Wagner Wealth Management LLC acquired a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Cornerstone Advisory LLC acquired a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in Coinbase Global in the 1st quarter worth approximately $28,000. Institutional investors own 39.01% of the company’s stock.
A number of equities research analysts recently weighed in on COIN shares. Canaccord Genuity Group decreased their price objective on shares of Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a report on Friday, February 25th. Mizuho decreased their price objective on shares of Coinbase Global from $135.00 to $60.00 in a report on Thursday, May 12th. Piper Sandler decreased their price objective on shares of Coinbase Global from $440.00 to $360.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Oppenheimer cut their target price on shares of Coinbase Global from $377.00 to $314.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Finally, Zacks Investment Research raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Buy” and an average price target of $250.89.
Coinbase Global Company Profile (Get Rating)
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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