Coinbase Global (NASDAQ:COIN) Trading Down 2.5% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price fell 2.5% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $289.04 and last traded at $286.89. 2,251,778 shares changed hands during trading, a decline of 71% from the average session volume of 7,778,332 shares. The stock had previously closed at $294.19.

Specifically, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Alesia J. Haas sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COIN. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Monness Crespi & Hardt boosted their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Mizuho upped their price target on 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 lifted their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $282.83.

Coinbase Global Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average price of $290.70 and a 200 day moving average price of $233.19. The stock has a market capitalization of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Life Planners bought a new position in shares of Coinbase Global during the fourth quarter valued at $69,000. Means Investment CO. Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $201,000. GPS Wealth Strategies Group LLC grew its stake in shares of Coinbase Global by 70.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 362 shares of the cryptocurrency exchange’s stock worth $90,000 after acquiring an additional 150 shares during the period. McAdam LLC purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $251,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Coinbase Global during the fourth quarter valued at approximately $680,000. 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.