Coinbase Global (NASDAQ:COIN) Shares Down 3% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) fell 3% during trading on Thursday following insider selling activity. The stock traded as low as $201.13 and last traded at $204.21. 4,353,427 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 10,359,045 shares. The stock had previously closed at $210.48.

Specifically, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $181.36, for a total value of $272,040.00. Following the sale, the chief operating officer now directly owns 176,601 shares of the company’s stock, valued at $32,028,357.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Compass Point lowered their price target 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. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright decreased their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One research analyst has 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.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $246.44.

Coinbase Global Trading Down 2.9 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $50.19 billion, a P/E ratio of 40.76 and a beta of 3.35. The firm’s 50-day simple moving average is $179.44 and its 200 day simple moving average is $211.95.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Cowen AND Company LLC raised its holdings in Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after buying an additional 22,071 shares during the period. Renaissance Technologies LLC lifted its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.