Coinbase Global (NASDAQ:COIN) Stock Price Down 1.9% Following Insider Selling

Shares of Coinbase Global, Inc. (NASDAQ:COIN) fell 1.9% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $228.63 and last traded at $229.00. 1,571,739 shares were traded during mid-day trading, a decline of 87% from the average session volume of 11,770,566 shares. The stock had previously closed at $233.37.

Specifically, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,194,357.78. The disclosure for this sale can be found here. Insiders sold 330,516 shares of company stock worth $73,051,856 over the last three months. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Sanford C. Bernstein upped their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Wedbush lifted their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their target price on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Stock Performance

The stock has a fifty day simple moving average of $227.68 and a two-hundred day simple moving average of $203.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40.

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

Institutional Trading of Coinbase Global

Several large investors have recently modified their holdings of COIN. Barrett & Company Inc. bought a new position in Coinbase Global during the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. Concord Wealth Partners grew its stake in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Finally, Mather Group LLC. bought a new stake in Coinbase Global in the 1st quarter valued at about $32,000. Institutional investors and hedge funds 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.