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

Coinbase Global, Inc. (NASDAQ:COIN) fell 1.1% on Tuesday after an insider sold shares in the company. The company traded as low as $306.50 and last traded at $320.82. 11,599,204 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 10,776,157 shares. The stock had previously closed at $324.24.

Specifically, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $15,000,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the sale, the director now owns 90,000 shares of the company’s stock, valued at $22,940,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares in the company, valued at $4,631,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

A number of equities research analysts have issued reports on COIN shares. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price for the company. Needham & Company LLC upped their target price on Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Barclays boosted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $187.74 and a 200 day moving average of $209.65. The firm has a market capitalization of $79.89 billion, a PE ratio of 54.03 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company earned ($0.01) EPS. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently made changes to their positions in COIN. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the period. Fifth Third Bancorp raised its stake in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 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.