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

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were down 1.9% on Tuesday following insider selling activity. The stock traded as low as $267.86 and last traded at $269.02. Approximately 4,014,767 shares changed hands during trading, a decline of 52% from the average daily volume of 8,437,118 shares. The stock had previously closed at $274.31.

Specifically, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $144,786.76. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COIN. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Finally, HC Wainwright upped their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $303.94.

Coinbase Global Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $66.25 billion, a PE ratio of 45.16 and a beta of 3.61. The business has a fifty day simple moving average of $279.49 and a two-hundred day simple moving average of $239.21.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Creative Planning boosted its stake in Coinbase Global by 42.5% in the third quarter. Creative Planning now owns 71,545 shares of the cryptocurrency exchange’s stock valued at $12,747,000 after acquiring an additional 21,335 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares in the last quarter. Foundations Investment Advisors LLC increased its position in Coinbase Global by 19.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,569 shares of the cryptocurrency exchange’s stock valued at $814,000 after buying an additional 740 shares in the last quarter. Signaturefd LLC raised its stake in Coinbase Global by 22.7% in the third quarter. Signaturefd LLC now owns 3,014 shares of the cryptocurrency exchange’s stock valued at $537,000 after buying an additional 557 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its holdings in Coinbase Global by 6.3% in the third quarter. Waldron Private Wealth LLC now owns 2,402 shares of the cryptocurrency exchange’s stock worth $428,000 after acquiring an additional 143 shares in the last quarter. 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.