Coinbase Global (NASDAQ:COIN) Shares Down 1.4% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares were down 1.4% during trading on Wednesday following insider selling activity. The stock traded as low as $255.50 and last traded at $260.69. Approximately 2,238,370 shares traded hands during trading, a decline of 70% from the average daily volume of 7,366,085 shares. The stock had previously closed at $264.33.

Specifically, Director Frederick Ernest Ehrsam III sold 22,842 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

COIN has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. 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 note on Monday, December 2nd. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Monness Crespi & Hardt upped their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Oppenheimer increased their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. 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 company. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $288.44.

Coinbase Global Stock Down 1.6 %

The business’s fifty day moving average is $285.74 and its two-hundred day moving average is $229.23. The stock has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The firm’s revenue was up 78.8% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Banco Santander S.A. raised its holdings in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after acquiring an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Coinbase Global during the second quarter worth approximately $2,908,000. Hedge funds and other 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.