Coinbase Global (NASDAQ:COIN) Shares Down 2.8% After Insider Selling

Shares of Coinbase Global, Inc. (NASDAQ:COIN) traded down 2.8% during trading on Friday after an insider sold shares in the company. The company traded as low as $263.21 and last traded at $266.80. 2,094,286 shares traded hands during trading, a decline of 81% from the average session volume of 11,139,242 shares. The stock had previously closed at $274.41.

Specifically, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

COIN has been the subject of several research reports. Barclays boosted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their price target on Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Mizuho raised their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $286.22.

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 stock has a 50-day moving average price of $275.98 and a 200-day moving average price of $227.85. The firm has a market capitalization of $66.52 billion, a PE ratio of 45.34 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, research analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global during the third quarter worth $32,000. Brown Brothers Harriman & Co. boosted its holdings in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Abich Financial Wealth Management LLC increased its stake in Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Coinbase Global during the second quarter worth $54,000. 68.84% of the stock is currently 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.