Coinbase Global (NASDAQ:COIN) Trading Down 2.9% – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN) was down 2.9% during trading on Tuesday . The stock traded as low as $303.50 and last traded at $306.17. Approximately 3,494,706 shares were traded during trading, a decline of 69% from the average daily volume of 11,225,260 shares. The stock had previously closed at $315.31.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC raised their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt increased their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $284.28.

Coinbase Global Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day simple moving average is $264.94 and its 200-day simple moving average is $226.46. The company has a market capitalization of $68.58 billion, a price-to-earnings ratio of 46.74 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,720 shares of company stock valued at $79,787,248 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Large investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter worth $25,000. Crewe Advisors LLC increased its position in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global in the third quarter worth about $32,000. Spirit of America Management Corp NY acquired a new position in shares of Coinbase Global during the second quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 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.