Coinbase Global (NASDAQ:COIN) Stock Price Down 1.1% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) traded down 1.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $306.50 and last traded at $320.82. 11,599,204 shares were traded during trading, an increase of 8% from the average session volume of 10,776,157 shares. The stock had previously closed at $324.24.

Specifically, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $22,940,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COIN shares. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and an average target price of $246.28.

Coinbase Global Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $79.89 billion, a PE ratio of 54.03 and a beta of 3.34. The company has a 50 day moving average price of $187.74 and a 200 day moving average price of $209.65.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Institutional Trading of Coinbase Global

Several hedge funds have recently bought and sold shares of COIN. APEIRON CAPITAL Ltd acquired a new position in Coinbase Global in the first quarter worth approximately $108,434,000. Empowered Funds LLC boosted its stake in Coinbase Global by 40.8% during the first quarter. Empowered Funds LLC now owns 4,989 shares of the cryptocurrency exchange’s stock worth $1,323,000 after buying an additional 1,445 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Coinbase Global in the 1st quarter valued at $1,241,000. Sei Investments Co. raised its stake in shares of Coinbase Global by 41.7% in the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Coinbase Global by 13.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,532 shares of the cryptocurrency exchange’s stock valued at $406,000 after acquiring an additional 182 shares in the last quarter. 68.84% of the stock is currently 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.