Coinbase Global (NASDAQ:COIN) Trading Down 2.3% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)'s stock price dropped 2.3% on Friday after an insider sold shares in the company. The stock traded as low as $204.21 and last traded at $205.52. Approximately 2,587,586 shares changed hands during trading, a decline of 80% from the average daily volume of 12,924,371 shares. The stock had previously closed at $210.45.Specifically, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the completion of the transaction, the director now owns 4,662 shares of the company's stock, valued at $988,716.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business's stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the completion of the sale, the director now owns 4,662 shares of the company's stock, valued at $988,716.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 377,922 shares of company stock valued at $84,866,107. Insiders own 33.16% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on COIN. Raymond James upgraded Coinbase Global from an "underperform" rating to a "market perform" rating in a report on Tuesday, March 12th. Wedbush lifted their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Piper Sandler increased their target price 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. Citigroup lifted their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a "neutral" rating in a research report on Friday, January 19th. Finally, TheStreet raised shares of Coinbase Global from a "d" rating to a "c-" rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average price target of $200.63.

Coinbase Global Stock Performance

The firm's 50-day moving average price is $237.68 and its two-hundred day moving average price is $169.71. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $48.68 billion, a PE ratio of 41.02 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business's quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the company posted ($2.46) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COIN. Xponance Inc. raised its holdings in shares of Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange's stock worth $470,000 after acquiring an additional 333 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Coinbase Global by 3.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange's stock valued at $282,000 after purchasing an additional 125 shares during the period. Brown Advisory Inc. increased its position in Coinbase Global by 84.0% in the 3rd quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange's stock worth $687,000 after buying an additional 4,175 shares during the period. IFM Investors Pty Ltd grew its position in Coinbase Global by 4.7% during the third quarter. IFM Investors Pty Ltd now owns 29,970 shares of the cryptocurrency exchange's stock worth $2,250,000 after buying an additional 1,335 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Coinbase Global by 8.0% during the 3rd quarter. TD Asset Management Inc now owns 21,321 shares of the cryptocurrency exchange's stock worth $1,601,000 after purchasing an additional 1,579 shares in the last quarter. Institutional investors and hedge funds 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.

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