Coinbase Global (NASDAQ:COIN) Shares Down 4.4% – Should You Sell?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) dropped 4.4% during mid-day trading on Monday . The stock traded as low as $264.40 and last traded at $266.56. Approximately 2,258,548 shares were traded during trading, a decline of 80% from the average daily volume of 11,208,888 shares. The stock had previously closed at $278.71.

Analyst Ratings Changes

Several brokerages recently issued reports on COIN. Needham & Company LLC upped their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. B. Riley began 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. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. One 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 stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $286.22.

Coinbase Global Stock Up 4.3 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $70.00 billion, a P/E ratio of 47.72 and a beta of 3.57. The stock’s 50-day moving average price is $272.28 and its two-hundred day moving average price is $227.16.

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 analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. As a group, research analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the sale, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now directly owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,720 shares of company stock worth $78,086,248. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Coinbase Global by 18.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,386 shares of the cryptocurrency exchange’s stock valued at $1,864,000 after acquiring an additional 1,291 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Coinbase Global by 35.0% in the second quarter. HB Wealth Management LLC now owns 1,339 shares of the cryptocurrency exchange’s stock worth $298,000 after purchasing an additional 347 shares during the last quarter. Arkadios Wealth Advisors grew its position in Coinbase Global by 98.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 2,815 shares of the cryptocurrency exchange’s stock worth $626,000 after purchasing an additional 1,397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Coinbase Global by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,651 shares of the cryptocurrency exchange’s stock valued at $15,923,000 after buying an additional 6,410 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Coinbase Global by 79.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 2,994 shares of the cryptocurrency exchange’s stock valued at $665,000 after buying an additional 1,324 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.