Coinbase Global (NASDAQ:COIN) Trading Down 1.7% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) dropped 1.7% on Wednesday following insider selling activity. The company traded as low as $307.41 and last traded at $313.66. Approximately 9,811,332 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 10,827,417 shares. The stock had previously closed at $319.13.

Specifically, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,940,100. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities research analysts recently commented on COIN shares. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Trading Down 2.1 %

The company’s fifty day simple moving average is $193.17 and its 200-day simple moving average is $210.75. The firm has a market capitalization of $69.81 billion, a PE ratio of 47.58 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the 3rd quarter valued at $25,000. Crewe Advisors LLC increased its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Coinbase Global during the 2nd quarter worth $29,000. Versant Capital Management Inc boosted its position in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $32,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.