Coinbase Global (NASDAQ:COIN) Shares Down 4.1% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was down 4.1% during trading on Monday following insider selling activity. The company traded as low as $208.59 and last traded at $211.10. Approximately 5,403,578 shares traded hands during trading, a decline of 48% from the average daily volume of 10,374,168 shares. The stock had previously closed at $220.21.

Specifically, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now directly owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $181.36, for a total value of $272,040.00. Following the transaction, the chief operating officer now directly owns 176,601 shares of the company’s stock, valued at $32,028,357.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Compass Point reduced 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 report on Tuesday, August 6th. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Barclays lifted their price target on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Bank of America cut their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $246.44.

Coinbase Global Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day moving average is $180.60 and its 200 day moving average is $210.90. The stock has a market cap of $51.75 billion, a price-to-earnings ratio of 42.06 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) EPS. As a group, equities analysts expect that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $26,665,000. Waldron Private Wealth LLC grew its position in shares of Coinbase Global by 6.3% during the third quarter. Waldron Private Wealth LLC now owns 2,402 shares of the cryptocurrency exchange’s stock worth $428,000 after acquiring an additional 143 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Coinbase Global by 22.7% in the 3rd quarter. Signaturefd LLC now owns 3,014 shares of the cryptocurrency exchange’s stock valued at $537,000 after acquiring an additional 557 shares during the period. Foundations Investment Advisors LLC raised its position in Coinbase Global by 19.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,569 shares of the cryptocurrency exchange’s stock valued at $814,000 after purchasing an additional 740 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC raised its position in Coinbase Global by 7.9% in the 3rd quarter. Warren Street Wealth Advisors LLC now owns 1,646 shares of the cryptocurrency exchange’s stock valued at $293,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

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.