Coinbase Global (NASDAQ:COIN) Stock Price Down 5.4%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 5.4% on Tuesday . The company traded as low as $207.55 and last traded at $211.25. Approximately 3,630,336 shares changed hands during trading, a decline of 74% from the average daily volume of 13,914,691 shares. The stock had previously closed at $223.41.

Analyst Ratings Changes

A number of equities analysts have weighed in on COIN shares. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. HC Wainwright upped their price target on Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Wedbush upped their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Oppenheimer upped their price target on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.70.

Coinbase Global Trading Down 4.6 %

The business has a 50 day moving average of $217.78 and a two-hundred day moving average of $152.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $51.65 billion, a P/E ratio of 777.00 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the prior year, the business earned ($2.46) EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. Analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders have sold 660,039 shares of company stock worth $109,435,051 in the last 90 days. Company insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently modified their holdings of COIN. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 19.8% during the 3rd quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after purchasing an additional 2,110,196 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global during the 4th quarter worth $50,254,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Coinbase Global by 741.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,342,039 shares of the cryptocurrency exchange’s stock worth $233,408,000 after purchasing an additional 1,182,556 shares in the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global during the 4th quarter worth $147,646,000. Finally, Morgan Stanley grew its holdings in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares in the last quarter. 68.84% of the stock is 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.