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

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was down 1.9% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $267.86 and last traded at $269.02. Approximately 4,014,767 shares were traded 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 business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,074,056.70. The trade was a 42.23 % decrease in their position. The transaction 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 the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COIN shares. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Piper Sandler upped their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $303.94.

Coinbase Global Stock Down 3.5 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average is $279.49 and its 200-day moving average is $239.21. The company has a market cap of $66.25 billion, a price-to-earnings ratio of 45.16 and a beta of 3.61.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $25,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at about $35,000. 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.