Coinbase Global (NASDAQ:COIN) Stock Price Down 1.2%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price dropped 1.2% on Tuesday . The company traded as low as $271.10 and last traded at $276.42. Approximately 4,649,565 shares traded hands during trading, a decline of 69% from the average daily volume of 15,049,954 shares. The stock had previously closed at $279.71.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COIN shares. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a report on Friday. HC Wainwright upped their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Oppenheimer boosted their target price on shares of Coinbase Global from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, Citigroup increased their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $136.30.

Coinbase Global Stock Down 1.8 %

The company has a market capitalization of $66.57 billion, a price-to-earnings ratio of 1,023.78 and a beta of 3.36. The firm has a 50 day moving average price of $180.33 and a two-hundred day moving average price of $134.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company’s revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($2.46) earnings per share. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 1.68 earnings per share for the current year.

Insider Activity

In related news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 732,470 shares of company stock worth $109,889,483. 33.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in COIN. Barrett & Company Inc. bought a new position in Coinbase Global during the fourth quarter worth about $26,000. Ancora Advisors LLC lifted its position in Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Tyler Stone Wealth Management purchased a new stake in Coinbase Global during the second quarter valued at $31,000. Finally, Quarry LP bought a new stake in Coinbase Global during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds 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.