Coinbase Global (NASDAQ:COIN) Shares Down 0.8% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN) was down 0.8% on Tuesday . The stock traded as low as $251.66 and last traded at $253.48. Approximately 1,672,442 shares changed hands during trading, a decline of 85% from the average daily volume of 11,102,240 shares. The stock had previously closed at $255.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COIN shares. HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. The Goldman Sachs Group upped their price objective on Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $286.22.

Coinbase Global Trading Down 2.8 %

The company has a market cap of $62.16 billion, a P/E ratio of 42.37 and a beta of 3.57. The firm has a 50-day moving average of $278.56 and a 200 day moving average of $227.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,641 shares of company stock valued at $80,937,273. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at $94,000. Virtu Financial LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $3,866,000. TD Private Client Wealth LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth about $77,000. Finally, Sunbelt Securities Inc. grew its position in Coinbase Global by 25.9% during the third quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock valued at $124,000 after buying an additional 143 shares during the period. 68.84% of the stock is owned by institutional investors.

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.