Coinbase Global (NASDAQ:COIN) Stock Price Down 1.2% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price fell 1.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $222.22 and last traded at $224.87. 1,665,435 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 11,712,344 shares. The stock had previously closed at $227.51.

Specifically, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares in the company, valued at approximately $47,681,649.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $1,194,357.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,516 shares of company stock valued at $73,051,856. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Canaccord Genuity Group boosted their price objective on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, May 3rd. HC Wainwright restated a “buy” rating and set a $315.00 price objective on shares of Coinbase Global in a research report on Tuesday, June 18th. Finally, Barclays boosted their price objective on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $215.50.

Coinbase Global Stock Down 1.1 %

The firm has a 50 day simple moving average of $227.68 and a two-hundred day simple moving average of $203.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Transcend Capital Advisors LLC grew its holdings in shares of Coinbase Global by 34.9% during the second quarter. Transcend Capital Advisors LLC now owns 3,713 shares of the cryptocurrency exchange’s stock worth $825,000 after buying an additional 960 shares in the last quarter. Chelsea Counsel Co. bought a new position in shares of Coinbase Global during the first quarter worth about $45,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Coinbase Global by 5.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock worth $7,075,000 after buying an additional 1,349 shares in the last quarter. EULAV Asset Management bought a new position in Coinbase Global in the first quarter valued at approximately $13,521,000. Finally, Cetera Advisors LLC grew its stake in Coinbase Global by 49.2% in the first quarter. Cetera Advisors LLC now owns 10,911 shares of the cryptocurrency exchange’s stock valued at $2,893,000 after purchasing an additional 3,597 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

About Coinbase Global

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.