Coinbase Global (NASDAQ:COIN) Stock Price Down 1.7% After Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN) traded down 1.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $307.41 and last traded at $313.66. 9,811,332 shares changed hands during trading, a decline of 9% from the average session volume of 10,827,417 shares. The stock had previously closed at $319.13.

Specifically, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at $15,000,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $22,940,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the sale, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Monness Crespi & Hardt assumed coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Trading Down 1.9 %

The business’s 50-day moving average is $190.74 and its two-hundred day moving average is $210.23. 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 stock has a market capitalization of $78.41 billion, a PE ratio of 53.53 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC raised its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $29,000. Versant Capital Management Inc raised its stake in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in Coinbase Global during the second quarter worth about $33,000. Finally, Continuum Advisory LLC raised its stake in Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds 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.