Coinbase Global (NASDAQ:COIN) Stock Price Down 5.4%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 5.4% on Tuesday . The company traded as low as $207.55 and last traded at $211.25. Approximately 3,630,336 shares changed hands during trading, a decline of 74% from the average daily volume of 13,914,691 shares. The stock had previously closed at $223.41.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COIN shares. Piper Sandler raised their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Citigroup raised their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Finally, TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average target price of $163.70.

Coinbase Global Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $51.79 billion, a PE ratio of 791.78 and a beta of 3.41. The firm’s fifty day simple moving average is $221.60 and its two-hundred day simple moving average is $154.18.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, research analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70. Following the transaction, the director now owns 120,214 shares of the company’s stock, valued at $14,580,756.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares in the company, valued at $4,933,575. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70. Following the sale, the director now owns 120,214 shares in the company, valued at approximately $14,580,756.06. The disclosure for this sale can be found here. Insiders have sold 590,978 shares of company stock valued at $103,440,000 over the last 90 days. 33.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of COIN. Fiduciary Alliance LLC bought a new stake in Coinbase Global in the first quarter worth $1,036,000. Founders Financial Securities LLC bought a new stake in Coinbase Global in the first quarter worth $223,000. Hennessy Advisors Inc. bought a new stake in Coinbase Global in the first quarter worth $1,591,000. Vanguard Capital Wealth Advisors increased its position in Coinbase Global by 48.9% in the first quarter. Vanguard Capital Wealth Advisors now owns 1,858 shares of the cryptocurrency exchange’s stock worth $493,000 after purchasing an additional 610 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in Coinbase Global by 203.0% in the first quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange’s stock worth $80,000 after purchasing an additional 201 shares during the last quarter. 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.