Coinbase Global (NASDAQ:COIN) Stock Price Down 0.8% - What's Next?

Coinbase Global, Inc. (NASDAQ:COIN)'s share price dropped 0.8% on Tuesday . The company traded as low as $251.66 and last traded at $253.48. Approximately 1,672,442 shares traded hands during trading, a decline of 85% from the average daily volume of 11,102,240 shares. The stock had previously closed at $255.56.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the company a "market perform" rating in a report on Friday, December 20th. Mizuho upped their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price objective on the stock. Finally, Barclays boosted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $286.22.

Coinbase Global Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $62.16 billion, a PE ratio of 42.37 and a beta of 3.57. The business has a 50 day moving average price of $276.82 and a two-hundred day moving average price of $227.71.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned ($0.01) EPS. The company's quarterly revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares of the company's stock, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,641 shares of company stock valued at $80,937,273 over the last ninety days. 23.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Empowered Funds LLC increased its stake in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after purchasing an additional 51 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange's stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange's stock worth $446,000 after purchasing an additional 61 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Coinbase Global by 3.9% in the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange's stock worth $314,000 after buying an additional 66 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

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.