Coinbase Global (NASDAQ:COIN) Trading Down 2.2% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price traded down 2.2% on Tuesday . The company traded as low as $188.31 and last traded at $192.02. 8,210,034 shares were traded during trading, a decline of 20% from the average session volume of 10,326,585 shares. The stock had previously closed at $196.35.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Barclays increased their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $246.44.

Coinbase Global Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $48.00 billion, a PE ratio of 38.33 and a beta of 3.35. The firm’s 50-day simple moving average is $178.77 and its 200-day simple moving average is $212.44.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) EPS. On average, research analysts predict that Coinbase Global, Inc. will post 3.92 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at $45,428,243. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,037 shares of company stock worth $14,136,915 over the last three months. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in Coinbase Global during the 4th quarter worth about $27,000. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the 2nd quarter worth about $29,000. Concord Wealth Partners raised its stake in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. 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.