Coinbase Global (NASDAQ:COIN) Trading Down 2.1% – Time to Sell?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) dropped 2.1% on Monday . The stock traded as low as $288.55 and last traded at $299.40. Approximately 5,999,871 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 10,953,326 shares. The stock had previously closed at $305.85.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Finally, Barclays boosted their target price on Coinbase Global from $175.00 to $204.00 and gave the company 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 assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $251.00.

Coinbase Global Price Performance

The business has a 50 day moving average price of $205.45 and a two-hundred day moving average price of $213.30. The stock has a market cap of $81.26 billion, a PE ratio of 55.39 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,822 shares of company stock worth $30,921,194. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of COIN. APEIRON CAPITAL Ltd bought a new stake in Coinbase Global during the 1st quarter valued at $108,434,000. Sei Investments Co. increased its holdings in shares of Coinbase Global by 41.7% in the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after purchasing an additional 2,920 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Coinbase Global by 80.0% in the first quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange’s stock worth $1,157,000 after purchasing an additional 1,941 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Coinbase Global by 53.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,499 shares of the cryptocurrency exchange’s stock worth $2,518,000 after purchasing an additional 3,306 shares during the period. Finally, UniSuper Management Pty Ltd increased its holdings in shares of Coinbase Global by 108.3% in the first quarter. UniSuper Management Pty Ltd now owns 2,500 shares of the cryptocurrency exchange’s stock worth $663,000 after purchasing an additional 1,300 shares during the period. Institutional investors 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.