Coinbase Global (NASDAQ:COIN) Stock Price Down 0.8% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares traded down 0.8% during trading on Thursday following insider selling activity. The company traded as low as $161.69 and last traded at $163.18. 1,365,203 shares were traded during trading, a decline of 87% from the average session volume of 10,389,928 shares. The stock had previously closed at $164.47.

Specifically, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $179.69, for a total transaction of $269,535.00. Following the sale, the chief operating officer now directly owns 186,101 shares in the company, valued at $33,440,488.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. HC Wainwright lowered their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $206.00 to $169.00 in a report on Friday, September 6th. Finally, Bank of America reduced their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Stock Performance

The stock has a market cap of $41.97 billion, a P/E ratio of 34.05 and a beta of 3.35. The stock has a fifty day simple moving average of $185.19 and a 200-day simple moving average of $217.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s revenue was up 104.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Equities analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake 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 buying an additional 100 shares during the period. Concord Wealth Partners lifted 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 purchasing an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in shares of Coinbase Global during the 1st quarter valued at about $32,000. Crewe Advisors LLC grew its position in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Finally, Lynx Investment Advisory bought a new stake in Coinbase Global during the 2nd quarter worth approximately $29,000. 68.84% of the stock is owned by institutional investors.

About Coinbase Global

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.