Coinbase Global (NASDAQ:COIN) Trading Down 3.5% Following Insider Selling

by · The Cerbat Gem

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded down 3.5% on Wednesday after an insider sold shares in the company. The stock traded as low as $243.70 and last traded at $243.7820. 8,217,298 shares were traded during trading, a decline of 24% from the average session volume of 10,797,455 shares. The stock had previously closed at $252.61.

Specifically, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $268.00, for a total value of $466,856.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 5,633 shares of Coinbase Global stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $266.49, for a total value of $1,501,138.17. Following the sale, the chief financial officer directly owned 78,714 shares in the company, valued at approximately $20,976,493.86. The trade was a 6.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating and issued a $384.00 target price on shares of Coinbase Global in a research report on Wednesday, October 29th. Compass Point set a $230.00 price target on Coinbase Global in a research note on Monday. Redburn Partners set a $417.00 price objective on Coinbase Global in a report on Friday, October 3rd. BTIG Research raised their price objective on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $388.18.

Read Our Latest Report on Coinbase Global

Coinbase Global Stock Performance

The firm has a market capitalization of $65.73 billion, a P/E ratio of 21.09 and a beta of 3.69. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $301.82 and its two-hundred day simple moving average is $319.12.

Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s revenue was up 55.1% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 8.3% in the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock worth $8,847,905,000 after purchasing an additional 2,007,930 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after buying an additional 1,755,146 shares during the last quarter. Groupama Asset Managment increased its holdings in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Norges Bank purchased a new position in Coinbase Global in the 2nd quarter worth about $1,044,354,000. Finally, Northern Trust Corp raised its position in Coinbase Global by 5.9% in the 3rd quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange’s stock worth $661,437,000 after buying an additional 108,751 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

(Get Free Report)

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.

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