Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke bought 4,482 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $337,897.98. Following the purchase, the director now owns 54,583 shares of the company’s stock, valued at approximately $4,115,012.37. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Tobias Lutke also recently made the following trade(s):
- On Wednesday, September 7th, Tobias Lutke bought 5,894 shares of Coinbase Global stock. The shares were bought at an average cost of $62.00 per share, for a total transaction of $365,428.00.
- On Tuesday, August 30th, Tobias Lutke bought 5,577 shares of Coinbase Global stock. The shares were bought at an average cost of $67.95 per share, for a total transaction of $378,957.15.
- On Tuesday, August 23rd, Tobias Lutke bought 5,177 shares of Coinbase Global stock. The shares were bought at an average cost of $71.94 per share, for a total transaction of $372,433.38.
- On Tuesday, August 16th, Tobias Lutke bought 4,023 shares of Coinbase Global stock. The shares were bought at an average cost of $90.55 per share, for a total transaction of $364,282.65.
- On Thursday, August 11th, Tobias Lutke acquired 3,930 shares of Coinbase Global stock. The stock was acquired at an average cost of $97.24 per share, for a total transaction of $382,153.20.
Coinbase Global Stock Down 1.9 %
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Shares of COIN traded down $1.47 on Thursday, reaching $77.23. The company’s stock had a trading volume of 10,877,264 shares, compared to its average volume of 10,366,431. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. Coinbase Global, Inc. has a twelve month low of $40.83 and a twelve month high of $368.90. The firm has a fifty day moving average of $71.54 and a 200-day moving average of $100.44.
Coinbase Global (NASDAQ:COIN – Get Rating) last posted its earnings results on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). Coinbase Global had a negative return on equity of 4.61% and a negative net margin of 4.79%. The business had revenue of $808.33 million during the quarter, compared to analyst estimates of $877.32 million. As a group, research analysts expect that Coinbase Global, Inc. will post -11.02 EPS for the current year.
Institutional Investors Weigh In On Coinbase Global
Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank grew its position in Coinbase Global by 346.4% in the 1st quarter. Huntington National Bank now owns 683 shares of the cryptocurrency exchange’s stock worth $130,000 after purchasing an additional 530 shares in the last quarter. Gladstone Institutional Advisory LLC grew its position in Coinbase Global by 10.5% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange’s stock worth $501,000 after purchasing an additional 250 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Coinbase Global by 15.2% during the 1st quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange’s stock valued at $3,015,000 after acquiring an additional 2,093 shares during the period. Toronto Dominion Bank grew its position in shares of Coinbase Global by 25.6% during the 1st quarter. Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange’s stock valued at $2,397,000 after acquiring an additional 2,573 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Coinbase Global by 24.9% during the 4th quarter. Squarepoint Ops LLC now owns 25,820 shares of the cryptocurrency exchange’s stock valued at $6,516,000 after acquiring an additional 5,140 shares during the period. 49.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
COIN has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $45.00 to $51.00 and gave the stock a “sell” rating in a research note on Thursday, August 11th. BTIG Research reduced their price objective on shares of Coinbase Global to $220.00 in a research note on Monday, August 15th. Needham & Company LLC reduced their price objective on shares of Coinbase Global from $173.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. JPMorgan Chase & Co. boosted their price objective on shares of Coinbase Global from $64.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, DA Davidson boosted their price objective on shares of Coinbase Global from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.14.
About Coinbase Global
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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