Coinbase Global (NASDAQ:COIN) Shares Down 4.4% – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 4.4% during mid-day trading on Monday . The company traded as low as $264.40 and last traded at $266.56. Approximately 2,258,548 shares traded hands during trading, a decline of 80% from the average daily volume of 11,208,888 shares. The stock had previously closed at $278.71.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Oppenheimer increased their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $286.22.

Coinbase Global Trading Down 4.0 %

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 firm has a fifty day simple moving average of $269.18 and a 200-day simple moving average of $226.83. The firm has a market cap of $67.01 billion, a P/E ratio of 45.68 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. This represents a 11.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,720 shares of company stock valued at $79,787,248 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Crewe Advisors LLC increased its position in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the third quarter worth about $32,000. Abich Financial Wealth Management LLC boosted its stake in Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after acquiring an additional 181 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors 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.