Coinbase Global (NASDAQ:COIN) Stock Price Down 2.5% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s share price fell 2.5% on Wednesday following insider selling activity. The company traded as low as $289.04 and last traded at $286.89. 2,251,778 shares changed hands during trading, a decline of 71% from the average session volume of 7,778,332 shares. The stock had previously closed at $294.19.

Specifically, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,470 shares in the company, valued at approximately $37,341,000. This represents a 13.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

Several analysts have issued reports on the company. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Bank of America increased their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Mizuho raised their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $282.83.

Coinbase Global Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. The company’s 50-day moving average is $290.70 and its 200 day moving average is $233.19.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB increased its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares in the last quarter. 68.84% of the stock is 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.