Coinbase Global (NASDAQ:COIN) Trading Down 0.2% on Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) shares dropped 0.2% on Thursday after an insider sold shares in the company. The company traded as low as $272.28 and last traded at $274.58. Approximately 2,194,323 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 7,832,831 shares. The stock had previously closed at $275.14.

Specifically, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Monness Crespi & Hardt boosted their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC boosted their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $68.68 billion, a price-to-earnings ratio of 46.86 and a beta of 3.61. The stock has a fifty day moving average price of $286.47 and a 200-day moving average price of $236.59.

Institutional Trading of Coinbase Global

A number of large investors have recently bought and sold shares of COIN. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in Coinbase Global in the third quarter valued at about $32,000. Finally, Bogart Wealth LLC grew its stake in Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.