Coinbase Global (NASDAQ:COIN) Trading Down 1.2% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 1.2% on Wednesday after an insider sold shares in the company. The company traded as low as $222.22 and last traded at $224.87. Approximately 1,665,435 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 11,712,344 shares. The stock had previously closed at $227.51.

Specifically, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction on 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 completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the completion of the transaction, the chief financial officer now directly owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $943,122.60. The disclosure for this sale can be found here. Insiders sold 353,141 shares of company stock valued at $78,864,413 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COIN. Wedbush raised their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barclays lifted their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Oppenheimer lifted their price target 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. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $215.50.

Coinbase Global Trading Down 1.4 %

The business’s 50 day moving average price is $227.67 and its two-hundred day moving average price is $203.32. The company has a market capitalization of $55.09 billion, a price-to-earnings ratio of 44.88 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Equities analysts forecast that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Morgan Stanley increased its stake in Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Norges Bank acquired a new position in Coinbase Global in the 4th quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new position in Coinbase Global in the 4th quarter valued at approximately $147,646,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Coinbase Global by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after buying an additional 37,847 shares during the period. 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.