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

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was down 0.2% during trading on Thursday after an insider sold shares in the company. The company traded as low as $272.28 and last traded at $274.58. Approximately 2,194,323 shares changed hands during trading, a decline of 72% from the average daily volume of 7,832,831 shares. The stock had previously closed at $275.14.

Specifically, Director Frederick Ernest Ehrsam III sold 15,228 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,922,072.67. The trade was a 59.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities research analysts have recently commented on COIN shares. The Goldman Sachs Group decreased their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $284.06.

Coinbase Global Stock Up 1.5 %

The firm’s fifty day moving average price is $285.22 and its 200-day moving average price is $236.89. 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 firm has a market capitalization of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61.

Institutional Trading of Coinbase Global

A number of large investors have recently added to or reduced their stakes in COIN. Truist Financial Corp lifted its position in Coinbase Global by 12.1% in the 2nd quarter. Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange’s stock worth $1,331,000 after buying an additional 646 shares in the last quarter. Park Avenue Securities LLC lifted its position in Coinbase Global by 53.5% in the 3rd quarter. Park Avenue Securities LLC now owns 1,913 shares of the cryptocurrency exchange’s stock worth $341,000 after buying an additional 667 shares in the last quarter. CWM LLC lifted its position in Coinbase Global by 4.4% in the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock worth $1,076,000 after buying an additional 253 shares in the last quarter. LifePro Asset Management purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $2,493,000. Finally, Watts Gwilliam & Co. LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $1,777,000. 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.