Coinbase Global (NASDAQ:COIN) Stock Price Down 1.1% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s share price fell 1.1% during trading on Thursday following insider selling activity. The stock traded as low as $222.22 and last traded at $224.94. 3,241,672 shares were traded during trading, a decline of 58% from the average session volume of 7,787,521 shares. The stock had previously closed at $227.51.

Specifically, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred 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 transaction, the director now owns 4,662 shares of the company’s stock, valued at $1,194,357.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the completion of 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. Over the last quarter, insiders have sold 330,516 shares of company stock valued at $73,051,856. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Trading Down 1.1 %

The firm’s 50-day moving average is $227.71 and its 200 day moving average is $203.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, equities analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in the business. Fountainhead AM LLC raised its holdings in Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares during the last quarter. Nilsine Partners LLC raised its holdings in Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.