Coinbase Global (NASDAQ:COIN) Trading Down 1.9% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares dropped 1.9% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $267.86 and last traded at $269.02. Approximately 4,014,767 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 8,437,118 shares. The stock had previously closed at $274.31.

Specifically, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $144,786.76. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research firms recently weighed in on COIN. Barclays increased their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday. HC Wainwright increased their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Monness Crespi & Hardt increased their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.94.

Coinbase Global Price Performance

The business’s 50-day moving average price is $279.49 and its 200 day moving average price is $239.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $66.25 billion, a P/E ratio of 45.16 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently modified their holdings of COIN. SOA Wealth Advisors LLC. raised its stake in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC raised its stake in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Yousif Capital Management LLC raised its stake in Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares in the last quarter. 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.