Coinbase Global (NASDAQ:COIN) Trading Down 2.5% Following Insider Selling

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were down 2.5% during trading on Wednesday following insider selling activity. The stock traded as low as $289.04 and last traded at $286.89. Approximately 2,251,778 shares changed hands during trading, a decline of 71% from the average daily volume of 7,778,332 shares. The stock had previously closed at $294.19.

Specifically, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Alesia J. Haas sold 20,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares of the company’s stock, valued at $37,341,000. The trade was a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Needham & Company LLC boosted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Stock Up 0.7 %

The company has a market capitalization of $74.60 billion, a P/E ratio of 50.85 and a beta of 3.59. The stock has a 50 day moving average price of $290.70 and a 200 day moving average price of $233.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC increased its holdings in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. Institutional investors 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.