Coinbase Global (NASDAQ:COIN) Trading Down 1.4%

Coinbase Global, Inc. (NASDAQ:COIN) dropped 1.4% during trading on Tuesday . The stock traded as low as $221.40 and last traded at $222.00. Approximately 5,071,572 shares traded hands during trading, a decline of 60% from the average daily volume of 12,656,565 shares. The stock had previously closed at $225.19.

Analysts Set New Price Targets

COIN has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a "market perform" rating in a report on Thursday, April 18th. Needham & Company LLC reduced their price target on shares of Coinbase Global from $275.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, May 3rd. Mizuho upped their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an "underperform" rating in a research report on Friday, April 12th. Bank of America upgraded shares of Coinbase Global from an "underperform" rating to a "neutral" rating and upped their price target for the company from $110.00 to $217.00 in a research report on Friday. Finally, Raymond James raised shares of Coinbase Global from an "underperform" rating to a "market perform" rating in a research note on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $214.67.

Coinbase Global Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day moving average price is $233.30 and its 200-day moving average price is $178.43. The firm has a market cap of $55.44 billion, a PE ratio of 45.07 and a beta of 3.46.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares of the company's stock, valued at approximately $18,223,223.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The disclosure for this sale can be found here. In the last three months, insiders sold 470,563 shares of company stock worth $104,873,137. 33.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Fountainhead AM LLC boosted its position in shares of Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange's stock worth $688,000 after acquiring an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange's stock worth $2,561,000 after acquiring an additional 81 shares during the last quarter. Nilsine Partners LLC boosted its position in shares of Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange's stock worth $1,786,000 after acquiring an additional 81 shares during the last quarter. Arkadios Wealth Advisors boosted its position in shares of Coinbase Global by 2.6% in the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange's stock worth $590,000 after acquiring an additional 86 shares during the last quarter. Finally, Concord Wealth Partners boosted its position in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange's stock worth $30,000 after acquiring an additional 87 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

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.