Coinbase Global (NASDAQ:COIN) Stock Price Down 0.6% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) traded down 0.6% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $161.40 and last traded at $162.21. 1,964,367 shares were traded during mid-day trading, a decline of 82% from the average session volume of 10,686,264 shares. The stock had previously closed at $163.22.

Specifically, COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $176.09, for a total value of $1,408,720.00. Following the completion of the transaction, the chief operating officer now directly owns 189,101 shares in the company, valued at approximately $33,298,795.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now owns 197,101 shares in the company, valued at approximately $37,240,262.94. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, HC Wainwright lowered their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $248.38.

Coinbase Global Trading Down 0.6 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 32.38 and a beta of 3.40. The firm has a 50 day moving average price of $213.74 and a two-hundred day moving average price of $224.24.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) EPS. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in Coinbase Global during the 4th quarter worth about $27,000. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the period. Lynx Investment Advisory bought a new stake in Coinbase Global in the second quarter worth approximately $29,000. Concord Wealth Partners lifted its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings 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 worth $30,000 after buying an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.