Insider Selling: Coinbase Global, Inc. COO Sells Shares of Stock

Emilie Choi, the Chief Operating Officer of Coinbase Global, Inc. (NASDAQ:COIN), executed a sale of 1,500 shares of the company’s stock on Tuesday, November 26th. The shares were sold at an average price of $298.31, resulting in a total transaction value of approximately $447,465.00. After this sale, Choi now directly holds 177,576 shares of Coinbase, amounting to a market value of about $52,972,696.56. This transaction represented a decrease of 0.84% in her overall holdings. The details of the sale were publicly disclosed in a filing with the Securities and Exchange Commission (SEC), which is available for review.

Additionally, Emilie Choi has recently engaged in several other transactions involving Coinbase shares:

• On Thursday, October 31st, she sold 1,500 shares at an average price of $203.30, totaling around $304,950.00.
• On Monday, October 14th, another sale of 1,500 shares occurred at an average price of $181.36, with a total value of approximately $272,040.00.
• On Monday, September 30th, she sold 1,500 shares again, this time at an average price of $179.69, which amounted to a transaction value of $269,535.00.
• On Friday, September 13th, she sold 1,500 shares at an average price of $162.24, resulting in a total value of around $243,360.00.
• Earlier, on Tuesday, September 3rd, Choi sold 8,000 shares of Coinbase at an average price of $176.09, totaling approximately $1,408,720.00.
• On Friday, August 30th, a sale of 1,500 shares was completed at an average price of $188.94 for a total value of about $283,410.00.

Coinbase Global Stock Performance

During trading on Wednesday, Coinbase's stock price saw an increase of $17.69, reaching $310.98 per share. The trading volume for the day was noted at 13,245,859 shares, surpassing the average volume of 11,193,557. The company features a debt-to-equity ratio of 0.48, with both a current ratio and a quick ratio of 1.03. Coinbase has a 50-day simple moving average of $219.83 and a 200-day simple moving average of $216.55. The current market capitalization stands at around $77.85 billion, while the price-to-earnings (P/E) ratio is marked at 53.07. Moreover, Coinbase shares have experienced a yearly low of $114.51 and a high of $341.75.

Recent Earnings Results

Coinbase recently announced its quarterly earnings on October 30th, reporting an earnings per share (EPS) of $0.28, which fell short of the consensus estimate of $0.41. The firm achieved revenue of $1.21 billion for the quarter, below analyst expectations of $1.26 billion. Notably, Coinbase's net margin was 29.76% with a return on equity of 14.81%. Year-over-year, the revenue depicted a substantial increase of 78.8%, compared to the same quarter last year.

Institutional Investment Activity

Multiple institutional investors have entered or changed their positions regarding Coinbase shares. Notably, APEIRON CAPITAL Ltd established a new stake valued at about $108,434,000 in the first quarter. Bayesian Capital Management LP and Janus Henderson Group PLC also expanded their investments, while Hancock Whitney Corp and LBP AM SA acquired new stakes. In total, institutional investors and hedge funds collectively own approximately 68.84% of Coinbase’s stock.

Analyst Price Target Updates

Recently, analysts have adjusted their price targets for Coinbase shares. Bank of America increased their target from $196.00 to $214.00, maintaining a "neutral" rating. Canaccord Genuity Group reiterated a "buy" recommendation with a $280.00 target, while Oppenheimer raised their target from $265.00 to $358.00 with an "outperform" rating. HC Wainwright confirmed a "buy" rating with a target of $295.00, and Barclays lifted their price target from $175.00 to $204.00, rating it as "equal weight." Overall, one analyst rated the stock as a "sell," while nine maintained a "hold" rating, and ten advocated a "buy" rating. The consensus rating for Coinbase shares is classified as a "Hold" with an average target price of $255.22.

Company Overview

Coinbase Global, Inc. operates as a provider of financial infrastructure and technology for the cryptocurrency economy, both within the United States and internationally. The company presents consumers with a primary financial account for crypto transactions, along with a marketplace where institutions can engage with crypto assets.

Insider, Selling, Shares