Coinbase Global (NASDAQ:COIN) Stock Price Down 2.8%

Coinbase Global, Inc. (NASDAQ:COIN) shares were down 2.8% during mid-day trading on Monday . The company traded as low as $234.23 and last traded at $237.59. Approximately 2,118,791 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 12,092,866 shares. The stock had previously closed at $244.50.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COIN. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Wedbush boosted their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group dropped their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $214.67.

Coinbase Global Trading Up 0.7 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $60.44 billion, a price-to-earnings ratio of 47.42 and a beta of 3.44. The business has a 50 day simple moving average of $229.14 and a 200-day simple moving average of $195.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. On average, equities analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The disclosure for this sale can be found here. Insiders have sold a total of 377,803 shares of company stock worth $86,110,620 in the last quarter. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its holdings in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Coinbase Global during the first quarter worth about $32,000. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $26,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $27,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.