Coinbase Global (NASDAQ:COIN) Stock Price Down 0.4% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN) was down 0.4% on Wednesday . The stock traded as low as $313.35 and last traded at $323.14. Approximately 9,509,354 shares changed hands during trading, a decline of 14% from the average daily volume of 11,045,611 shares. The stock had previously closed at $324.57.

Wall Street Analyst Weigh In

COIN has been the topic of a number of analyst reports. Mizuho lifted their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Compass Point lowered their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Barclays raised their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $251.00.

Coinbase Global Trading Down 3.6 %

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 stock’s 50 day moving average is $205.45 and its 200-day moving average is $213.30. The company has a market cap of $78.33 billion, a PE ratio of 55.14 and a beta of 3.34.

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

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $15,000,000. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock valued at $30,921,194 in the last ninety days. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter worth $25,000. Crewe Advisors LLC increased its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory purchased a new position in Coinbase Global in the 2nd quarter worth about $29,000. Versant Capital Management Inc boosted its position in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $32,000. 68.84% of the stock is owned by 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.