Coinbase Global (NASDAQ:COIN) Trading Down 0.9% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares fell 0.9% during trading on Wednesday following insider selling activity. The company traded as low as $253.95 and last traded at $264.54. 6,346,896 shares traded hands during trading, a decline of 58% from the average session volume of 14,997,183 shares. The stock had previously closed at $266.81.

Specifically, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now directly owns 61,665 shares in the company, valued at approximately $7,462,698.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $274.97, for a total value of $4,504,008.60. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,281,910.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the sale, the insider now directly owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Insiders have sold a total of 759,107 shares of company stock worth $117,220,321 in the last three months. Insiders own 33.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Keefe, Bruyette & Woods upgraded Coinbase Global from an “underperform” rating to a “market perform” rating and upped their target price for the company from $93.00 to $160.00 in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $141.30.

Coinbase Global Trading Up 3.3 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $64.23 billion, a price-to-earnings ratio of 981.93 and a beta of 3.36. The firm’s 50-day moving average is $188.26 and its 200 day moving average is $137.37.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.46) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global during the 4th quarter valued at approximately $26,000. Ancora Advisors LLC boosted its stake in shares of Coinbase Global by 144.0% in the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 435 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Tyler Stone Wealth Management bought a new position in Coinbase Global during the second quarter worth $31,000. Finally, Quarry LP acquired a new position in Coinbase Global in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.