Coinbase Global (NASDAQ:COIN) Stock Price Down 1.2% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares traded down 1.2% on Wednesday following insider selling activity. The stock traded as low as $222.22 and last traded at $224.87. 1,665,435 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,712,344 shares. The stock had previously closed at $227.51.

Specifically, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lawrence J. Brock sold 16,456 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the sale, the insider now directly owns 16,140 shares of the company’s stock, valued at approximately $3,604,707.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,516 shares of company stock valued at $73,051,856. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COIN shares. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Sanford C. Bernstein increased their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $215.50.

Coinbase Global Trading Down 1.1 %

The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40. The business’s 50 day simple moving average is $227.68 and its 200 day simple moving average is $203.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Research analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Institutional Trading of Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $147,646,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after buying an additional 37,847 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.