Coinbase Global (NASDAQ:COIN) Trading Down 1.7% Following Insider Selling

Coinbase Global, Inc. (NASDAQ:COIN)'s share price was down 1.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $307.41 and last traded at $313.66. Approximately 9,811,332 shares were traded during trading, a decline of 9% from the average daily 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 that occurred 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 sale, the director now directly owns 50,000 shares of the company's stock, valued at approximately $15,000,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick R. Wilson sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were 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 in the company, valued at approximately $22,940,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 18,525 shares of the company's stock, valued at approximately $4,631,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research analyst reports. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. HC Wainwright reaffirmed a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Needham & Company LLC lifted their price target on Coinbase Global from $260.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $246.28.

Coinbase Global Stock Down 10.8 %

The firm has a 50-day simple moving average of $190.74 and a 200 day simple moving average of $210.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $71.28 billion, a PE ratio of 49.50 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the business earned ($0.01) earnings per share. The company's revenue for the quarter was up 78.8% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after buying an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after buying an additional 51 shares during the last quarter. Fifth Third Bancorp increased its holdings in Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange's stock valued at $2,777,000 after buying an additional 55 shares during the last quarter. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock valued at $30,000 after buying an additional 57 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange's stock valued at $118,000 after buying an additional 57 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other 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.