Coinbase Global (NASDAQ:COIN) Trading Down 1.9% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 1.9% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $228.63 and last traded at $229.00. Approximately 1,571,739 shares traded hands during trading, a decline of 87% from the average daily volume of 11,770,566 shares. The stock had previously closed at $233.37.

Specifically, CAO Jennifer N. Jones sold 450 shares of Coinbase Global stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $256.19, for a total value of $4,196,392.20. Following the sale, the director now directly owns 4,662 shares in the company, valued at approximately $1,194,357.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 330,516 shares of company stock valued at $73,051,856. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Canaccord Genuity Group upped their target price on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Piper Sandler lifted their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Wedbush raised their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.50.

Coinbase Global Stock Performance

The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40. The stock has a 50 day simple moving average of $227.68 and a 200 day simple moving average of $203.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Several hedge funds have recently bought and sold shares of the company. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth $27,000. Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in Coinbase Global in the first quarter worth about $32,000. 68.84% of the stock is currently owned by institutional investors.

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.