Coinbase Global (NASDAQ:COIN) Shares Down 2.8%

Coinbase Global, Inc. (NASDAQ:COIN) fell 2.8% during mid-day trading on Monday . The stock traded as low as $234.23 and last traded at $237.59. 2,118,791 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 12,092,866 shares. The stock had previously closed at $244.50.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COIN. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Barclays upped their price target on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Finally, Oppenheimer upped their price target on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market cap of $57.94 billion, a price-to-earnings ratio of 47.10 and a beta of 3.44. The company’s 50-day moving average is $228.90 and its 200-day moving average is $196.80.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Equities research analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $943,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 379,303 shares of company stock valued at $86,479,860. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its position in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares in the last quarter. KBC Group NV raised its holdings in shares of Coinbase Global by 26.2% in the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock valued at $3,793,000 after purchasing an additional 4,524 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $302,000. Russell Investments Group Ltd. raised its holdings in shares of Coinbase Global by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock valued at $3,142,000 after purchasing an additional 1,685 shares during the period. Finally, Mariner LLC raised its holdings in shares of Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares during the period. 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.