Coinbase Global (NASDAQ:COIN) Trading Down 4.3%

Coinbase Global, Inc. (NASDAQ:COIN) shares were down 4.3% on Friday . The company traded as low as $209.45 and last traded at $215.22. Approximately 5,062,399 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 11,671,523 shares. The stock had previously closed at $224.94.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COIN shares. JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wedbush upped their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Finally, Piper Sandler upped their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.50.

Coinbase Global Trading Down 2.1 %

The company has a market cap of $54.09 billion, a PE ratio of 42.96 and a beta of 3.40. The stock’s 50 day moving average is $227.71 and its 200-day moving average is $203.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $232.24, for a total value of $1,857,920.00. Following the transaction, the chief operating officer now directly owns 197,971 shares in the company, valued at $45,976,785.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Emilie Choi sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $232.24, for a total value of $1,857,920.00. Following the transaction, the chief operating officer now directly owns 197,971 shares in the company, valued at $45,976,785.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,516 shares of company stock worth $73,051,856. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Morgan Stanley boosted its holdings in shares of 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 in the last quarter. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $202,936,000. a16z Perennial Management L.P. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $147,646,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 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.