Coinbase Global (NASDAQ:COIN) Shares Down 0.9% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) fell 0.9% on Wednesday after an insider sold shares in the company. The stock traded as low as $253.95 and last traded at $264.54. 6,346,896 shares were traded during mid-day trading, a decline of 58% from the average session volume of 14,997,183 shares. The stock had previously closed at $266.81.

Specifically, COO Emilie Choi sold 700 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the transaction, the chief operating officer now directly owns 225,142 shares in the company, valued at $29,333,751.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $274.97, for a total transaction of $4,504,008.60. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,281,910.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 700 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. Insiders sold a total of 759,107 shares of company stock valued at $117,220,321 over the last quarter. Company insiders own 33.16% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Wedbush upped their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. HC Wainwright raised their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 16th. Mizuho boosted their price objective on shares of Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, February 22nd. Oppenheimer raised their target price on shares of Coinbase Global from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $141.30.

Coinbase Global Stock Up 3.3 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $188.26 and its 200 day simple moving average is $137.37. The stock has a market capitalization of $64.23 billion, a P/E ratio of 981.93 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. As a group, research analysts predict that Coinbase Global, Inc. will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Barrett & Company Inc. bought a new stake in Coinbase Global during the fourth quarter valued at $26,000. Ancora Advisors LLC grew its position in shares of Coinbase Global by 144.0% during the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Tyler Stone Wealth Management bought a new position in Coinbase Global in the second quarter worth about $31,000. Finally, Quarry LP acquired a new position in Coinbase Global in the fourth quarter valued at approximately $32,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.