Coinbase Global (NASDAQ:COIN) Stock Price Down 0.4% After Insider Selling

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were down 0.4% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $313.35 and last traded at $323.14. Approximately 9,509,354 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 11,045,611 shares. The stock had previously closed at $324.57.

Specifically, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of brokerages recently commented on COIN. Piper Sandler restated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. Barclays increased their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Mizuho raised their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $251.00.

Coinbase Global Stock Performance

The stock has a 50 day moving average price of $211.36 and a two-hundred day moving average price of $214.61. 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 company has a market capitalization of $74.05 billion, a price-to-earnings ratio of 50.48 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter worth about $25,000. Crewe Advisors LLC grew its position in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory bought a new stake in shares of Coinbase Global during the second quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Coinbase Global in the third quarter valued at approximately $32,000. 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.