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

Coinbase Global, Inc. (NASDAQ:COIN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $217.45, but opened at $205.08. Coinbase Global shares last traded at $194.46, with a volume of 3,023,628 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COIN shares. Barclays raised their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a report on Friday. They issued a “buy” rating and a $305.00 target price on the stock. Mizuho reduced their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $311.21.

Coinbase Global Price Performance

The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $49.13 billion, a price-to-earnings ratio of 20.43 and a beta of 3.66. The company’s 50-day moving average is $262.21 and its 200-day moving average is $241.70.

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

Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 in the last 90 days. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter valued at $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.