Coinbase Global (NASDAQ:COIN) Shares Down 4.2% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $179.69 and last traded at $183.60. 3,009,134 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 9,370,935 shares. The stock had previously closed at $191.73.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COIN shares. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Rosenblatt Securities began coverage on Coinbase Global in a research note on Friday, March 7th. They issued a “buy” rating and a $305.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.89.

Coinbase Global Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm’s 50 day moving average price is $255.08 and its two-hundred day moving average price is $240.49. The company has a market cap of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. Copia Wealth Management purchased a new stake in Coinbase Global in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the third quarter valued at about $25,000. 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.