Coinbase Global (NASDAQ:COIN) Stock Price Down 0.2%

Coinbase Global, Inc. (NASDAQ:COIN) shares dropped 0.2% on Wednesday . The stock traded as low as $170.16 and last traded at $171.30. Approximately 1,693,255 shares changed hands during trading, a decline of 84% from the average daily volume of 10,385,997 shares. The stock had previously closed at $171.68.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. 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, August 2nd. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America dropped their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. HC Wainwright reduced their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Trading Down 2.1 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $41.75 billion, a price-to-earnings ratio of 33.89 and a beta of 3.36. The business’s 50-day simple moving average is $195.80 and its 200-day simple moving average is $220.40.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted ($0.42) earnings per share. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. On average, research analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.95, for a total value of $335,925.00. Following the transaction, the chief operating officer now directly owns 205,971 shares of the company’s stock, valued at approximately $46,127,205.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,562 shares of company stock valued at $20,920,899. 23.43% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $27,000. Crewe Advisors LLC grew its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the 2nd quarter worth $29,000. Concord Wealth Partners lifted its position 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 worth $30,000 after purchasing an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position 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 worth $30,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is currently 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.