Coinbase Global (NASDAQ:COIN) Trading Down 0.2% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded down 0.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $272.28 and last traded at $274.58. 2,194,323 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 7,832,831 shares. The stock had previously closed at $275.14.

Specifically, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

COIN has been the subject of a number of recent research reports. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Monness Crespi & Hardt boosted their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Coinbase Global Stock Down 0.3 %

The stock has a market cap of $68.68 billion, a price-to-earnings ratio of 46.86 and a beta of 3.61. The business has a fifty day moving average of $286.47 and a 200 day moving average of $236.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the third quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.