Coinbase Global (NASDAQ:COIN) Shares Down 0.5%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) dropped 0.5% during trading on Wednesday . The company traded as low as $219.40 and last traded at $220.57. Approximately 1,393,924 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 11,901,744 shares. The stock had previously closed at $221.71.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Mizuho upped their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Piper Sandler boosted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Price Performance

The company has a market cap of $55.01 billion, a P/E ratio of 44.71 and a beta of 3.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average price of $227.48 and a two-hundred day moving average price of $200.82.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. Insiders sold 360,021 shares of company stock valued at $80,655,822 in the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in COIN. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Concord Wealth Partners boosted its holdings in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter worth about $32,000. Institutional investors 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.