Coinbase Global (NASDAQ:COIN) Shares Gap Down Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $220.21, but opened at $215.40. Coinbase Global shares last traded at $209.90, with a volume of 2,273,096 shares changing hands.

Specifically, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $181.36, for a total transaction of $272,040.00. Following the transaction, the chief operating officer now owns 176,601 shares in the company, valued at $32,028,357.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $246.44.

Coinbase Global Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $52.48 billion, a P/E ratio of 42.66 and a beta of 3.35. The firm has a fifty day moving average of $180.60 and a 200-day moving average of $210.90.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

A number of large investors have recently made changes to their positions in COIN. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the second quarter valued at approximately $29,000. Concord Wealth Partners raised its stake in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Coinbase Global by 833.3% in the 1st 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 during the period. Finally, Versant Capital Management Inc lifted its stake in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.