Tobias Lutke Acquires 8,974 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke purchased 8,974 shares of the stock in a transaction on Tuesday, November 22nd. The stock was acquired at an average price of $42.35 per share, with a total value of $380,048.90. Following the acquisition, the director now directly owns 115,872 shares in the company, valued at $4,907,179.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tobias Lutke also recently made the following trade(s):

  • On Tuesday, November 15th, Tobias Lutke bought 6,952 shares of Coinbase Global stock. The shares were purchased at an average price of $55.00 per share, with a total value of $382,360.00.
  • On Tuesday, November 8th, Tobias Lutke bought 6,495 shares of Coinbase Global stock. The shares were purchased at an average price of $54.50 per share, with a total value of $353,977.50.
  • On Tuesday, November 1st, Tobias Lutke bought 5,585 shares of Coinbase Global stock. The shares were purchased at an average price of $68.99 per share, with a total value of $385,309.15.
  • On Tuesday, October 25th, Tobias Lutke bought 5,573 shares of Coinbase Global stock. The shares were purchased at an average price of $66.96 per share, with a total value of $373,168.08.
  • On Tuesday, October 18th, Tobias Lutke purchased 5,349 shares of Coinbase Global stock. The shares were bought at an average cost of $72.90 per share, for a total transaction of $389,942.10.
  • On Tuesday, October 11th, Tobias Lutke purchased 5,519 shares of Coinbase Global stock. The shares were bought at an average cost of $67.61 per share, for a total transaction of $373,139.59.
  • On Tuesday, October 4th, Tobias Lutke purchased 5,610 shares of Coinbase Global stock. The shares were bought at an average cost of $69.09 per share, for a total transaction of $387,594.90.
  • On Tuesday, September 27th, Tobias Lutke purchased 5,941 shares of Coinbase Global stock. The shares were bought at an average cost of $65.29 per share, for a total transaction of $387,887.89.
  • On Tuesday, September 20th, Tobias Lutke purchased 5,291 shares of Coinbase Global stock. The shares were bought at an average cost of $68.19 per share, for a total transaction of $360,793.29.
  • On Tuesday, September 13th, Tobias Lutke bought 4,482 shares of Coinbase Global stock. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $337,897.98.

Coinbase Global Trading Up 5.0 %

NASDAQ:COIN opened at $45.57 on Friday. Coinbase Global, Inc. has a 1 year low of $40.61 and a 1 year high of $331.70. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of -7.51 and a beta of 2.50. The business has a fifty day moving average of $62.01 and a 200-day moving average of $65.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05.

Coinbase Global (NASDAQ:COINGet Rating) last announced its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. The company had revenue of $590.34 million for the quarter, compared to analysts’ expectations of $642.76 million. Equities analysts predict that Coinbase Global, Inc. will post -11.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent analyst reports. BTIG Research cut their target price on Coinbase Global from $220.00 to $110.00 in a research report on Friday, November 4th. Wedbush cut their target price on Coinbase Global from $100.00 to $75.00 in a research report on Friday, November 4th. Needham & Company LLC cut their target price on Coinbase Global from $89.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America lowered Coinbase Global from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $50.00 in a research report on Friday, November 18th. Finally, Wells Fargo & Company started coverage on Coinbase Global in a report on Thursday, September 29th. They issued an “underweight” rating and a $57.00 price target for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.17.

Institutional Trading of Coinbase Global

Several hedge funds have recently added to or reduced their stakes in COIN. Toroso Investments LLC lifted its position in shares of Coinbase Global by 0.3% during the 3rd quarter. Toroso Investments LLC now owns 301,487 shares of the cryptocurrency exchange’s stock worth $19,442,000 after buying an additional 772 shares during the period. IHT Wealth Management LLC lifted its holdings in Coinbase Global by 46.9% during the third quarter. IHT Wealth Management LLC now owns 6,868 shares of the cryptocurrency exchange’s stock worth $443,000 after acquiring an additional 2,193 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Coinbase Global by 4.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 8,520 shares of the cryptocurrency exchange’s stock valued at $550,000 after purchasing an additional 353 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Coinbase Global by 6.0% in the third quarter. California State Teachers Retirement System now owns 229,464 shares of the cryptocurrency exchange’s stock valued at $14,798,000 after purchasing an additional 13,064 shares in the last quarter. Finally, One Fin Capital Management LP acquired a new stake in shares of Coinbase Global in the third quarter valued at about $10,963,000. Institutional investors own 49.31% of the company’s stock.

About Coinbase Global

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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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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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