Coinbase Global (NASDAQ:COIN) Stock Price Down 0.6% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 0.6% on Thursday . The stock traded as low as $242.34 and last traded at $252.70. Approximately 5,972,243 shares were traded during trading, a decline of 43% from the average daily volume of 10,545,495 shares. The stock had previously closed at $254.31.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Finally, Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $246.28.

Coinbase Global Price Performance

The firm has a market capitalization of $67.27 billion, a PE ratio of 46.20 and a beta of 3.34. The stock’s 50 day simple moving average is $184.92 and its two-hundred day simple moving average is $209.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,822 shares of company stock worth $16,372,294 in the last ninety days. 23.43% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC lifted its position in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the second quarter worth $29,000. Geneos Wealth Management Inc. increased its position in shares of Coinbase Global by 833.3% during 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 during the period. Versant Capital Management Inc raised its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Coinbase Global in the third quarter valued at $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.