Coinbase Global (NASDAQ:COIN) Shares Gap Down to $224.94

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $224.94, but opened at $213.48. Coinbase Global shares last traded at $211.88, with a volume of 1,363,408 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Wedbush upped their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays lifted their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $215.50.

Coinbase Global Stock Down 4.7 %

The stock has a market capitalization of $52.66 billion, a P/E ratio of 42.96 and a beta of 3.40. 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 firm’s 50-day simple moving average is $227.71 and its 200 day simple moving average is $203.62.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the sale, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at approximately $529,287.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $256.19, for a total value of $4,196,392.20. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,194,357.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at $529,287.36. The disclosure for this sale can be found here. Insiders have sold a total of 330,516 shares of company stock valued at $73,051,856 in the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new position in Coinbase Global in the fourth quarter valued at approximately $27,000. Concord Wealth Partners increased its holdings in Coinbase Global by 322.2% in the 1st 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. Geneos Wealth Management Inc. lifted its stake in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Coinbase Global in the first quarter worth $32,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.