Coinbase Global (NASDAQ:COIN) Shares Gap Down on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $245.10, but opened at $238.25. Coinbase Global shares last traded at $237.38, with a volume of 1,057,285 shares traded.

Specifically, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the transaction, the chief operating officer now owns 204,436 shares in the company, valued at $40,049,012.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the transaction, the chief operating officer now owns 204,436 shares in the company, valued at approximately $40,049,012.40. The disclosure for this sale can be found here. Insiders have sold 378,158 shares of company stock worth $86,182,160 in the last 90 days. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on COIN. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Wednesday, June 5th. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Friday, May 3rd. Singular Research restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $215.50.

Coinbase Global Trading Down 3.7 %

The firm’s 50-day simple moving average is $228.76 and its 200-day simple moving average is $197.52. 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 firm has a market capitalization of $57.94 billion, a PE ratio of 47.10 and a beta of 3.44.

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, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Equities analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of the company. Fountainhead AM LLC boosted its holdings in shares of Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Coinbase Global by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares during the period. Nilsine Partners LLC lifted its holdings in Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors lifted its holdings in Coinbase Global by 2.6% in the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the period. Finally, Concord Wealth Partners increased its stake in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other 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.