Coinbase Global (NASDAQ:COIN) Trading Down 0.2% – Time to Sell?

Coinbase Global, Inc. (NASDAQ:COIN) traded down 0.2% during mid-day trading on Friday . The company traded as low as $311.34 and last traded at $312.30. 1,924,828 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 11,242,184 shares. The stock had previously closed at $312.96.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Barclays increased their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $276.22.

Coinbase Global Stock Performance

The firm’s 50 day moving average is $254.08 and its 200-day moving average is $224.63. The stock has a market capitalization of $77.68 billion, a price-to-earnings ratio of 53.29 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s revenue was up 78.8% compared to the same quarter last year. Analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,720 shares of company stock valued at $79,787,248. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co boosted its holdings in Coinbase Global by 8.5% during the 2nd quarter. Diversified Trust Co now owns 2,287 shares of the cryptocurrency exchange’s stock valued at $508,000 after acquiring an additional 180 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Coinbase Global in the second quarter valued at approximately $333,000. Swedbank AB increased its stake in Coinbase Global by 138.9% during the 2nd quarter. Swedbank AB now owns 45,476 shares of the cryptocurrency exchange’s stock worth $10,106,000 after buying an additional 26,440 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Coinbase Global by 39.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,629 shares of the cryptocurrency exchange’s stock worth $584,000 after buying an additional 739 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Coinbase Global by 1,775.6% in the second quarter. Blue Trust Inc. now owns 3,376 shares of the cryptocurrency exchange’s stock worth $750,000 after acquiring an additional 3,196 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.