Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded down 2.7% on Friday after an insider sold shares in the company. The company traded as low as $224.14 and last traded at $228.50. 3,595,060 shares were traded during mid-day trading, a decline of 71% from the average session volume of 12,429,544 shares. The stock had previously closed at $234.76.
Specifically, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the sale, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frederick R. Wilson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $241.28, for a total transaction of $3,619,200.00. Following the completion of the transaction, the director now owns 180,539 shares of the company’s stock, valued at $43,560,449.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the transaction, 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. Over the last three months, insiders sold 465,233 shares of company stock worth $106,055,266. Corporate insiders own 23.43% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays upped their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research note on Monday, May 6th. HC Wainwright upped their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Wedbush upped their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $214.67.
View Our Latest Research Report on COIN
Coinbase Global Trading Down 3.8 %
The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $231.22 and its 200 day moving average is $185.16. The firm has a market capitalization of $55.48 billion, a price-to-earnings ratio of 45.09 and a beta of 3.46.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Equities analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.
Institutional Investors Weigh In On Coinbase Global
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barrett & Company Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Concord Wealth Partners grew its position 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 worth $30,000 after purchasing an additional 87 shares in the last quarter. Geneos Wealth Management Inc. grew its position 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 worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $32,000. 68.84% of the stock is currently 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.
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