Coinbase Global (NASDAQ:COIN) Shares Down 1.5% – Should You Sell?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) fell 1.5% during mid-day trading on Tuesday . The stock traded as low as $315.50 and last traded at $320.66. 5,693,217 shares were traded during mid-day trading, a decline of 48% from the average session volume of 11,014,645 shares. The stock had previously closed at $325.41.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COIN. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $251.00.

Coinbase Global Trading Down 1.4 %

The company has a market cap of $80.11 billion, a PE ratio of 54.61 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $208.71 and a 200-day simple moving average of $214.04.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,091 shares of company stock worth $50,033,426. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global during the third quarter worth about $29,756,000. Lindbrook Capital LLC grew its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares during the period. Sanctuary Advisors LLC acquired a new position in Coinbase Global during the second quarter worth about $2,908,000. Finally, QRG Capital Management Inc. grew its position in Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares during the period. 68.84% of the stock is 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.