Coinbase Global (NASDAQ:COIN) Stock Price Down 0.8% – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN) traded down 0.8% during mid-day trading on Wednesday . The company traded as low as $165.78 and last traded at $166.32. 1,512,653 shares traded hands during trading, a decline of 85% from the average session volume of 10,298,923 shares. The stock had previously closed at $167.69.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Barclays boosted their price objective on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $246.44.

Coinbase Global Stock Up 7.4 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average price is $179.19 and its 200 day moving average price is $214.32. The stock has a market cap of $43.83 billion, a P/E ratio of 31.29 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.42) EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,037 shares of company stock worth $15,512,370 in the last 90 days. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Several large investors have recently modified their holdings of COIN. Vanguard Group Inc. raised its holdings in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC increased its position in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the period. Canada Pension Plan Investment Board boosted its position in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the last quarter. 68.84% of the stock is 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.