Coinbase Global (NASDAQ:COIN) Shares Down 4.3%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price fell 4.3% during mid-day trading on Friday . The company traded as low as $209.45 and last traded at $215.22. 5,062,399 shares changed hands during trading, a decline of 57% from the average session volume of 11,671,523 shares. The stock had previously closed at $224.94.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Oppenheimer boosted their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Piper Sandler boosted their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Finally, Sanford C. Bernstein boosted their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $227.71 and a two-hundred day simple moving average of $203.62. The company has a market cap of $54.09 billion, a PE ratio of 42.96 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Equities analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,516 shares of company stock worth $73,051,856. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Barrett & Company Inc. purchased a new position in Coinbase Global in the fourth quarter worth $26,000. Creekmur Asset Management LLC purchased a new position in Coinbase Global in the fourth quarter worth $27,000. Concord Wealth Partners raised its position in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Coinbase Global in the first quarter worth $32,000. 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.