Coinbase Global (NASDAQ:COIN) Stock Price Down 1.9%

Coinbase Global, Inc. (NASDAQ:COIN) shares dropped 1.9% during trading on Tuesday . The stock traded as low as $234.60 and last traded at $240.50. Approximately 2,719,820 shares changed hands during trading, a decline of 77% from the average daily volume of 12,051,593 shares. The stock had previously closed at $245.10.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and upped their target price for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Barclays increased their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Friday, May 3rd. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Finally, The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $215.50.

View Our Latest Stock Report on Coinbase Global

Coinbase Global Trading Down 2.9 %

The company’s 50 day simple moving average is $228.90 and its two-hundred day simple moving average is $196.80. 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 company has a market capitalization of $58.43 billion, a price-to-earnings ratio of 48.00 and a beta of 3.44.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping 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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. As a group, research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction on 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 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 ninety days, insiders sold 377,803 shares of company stock worth $86,110,620. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after purchasing an additional 81 shares during the last quarter. Fountainhead AM LLC boosted its holdings in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after purchasing an additional 81 shares during the last quarter. Nilsine Partners LLC boosted its holdings in Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after purchasing an additional 81 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares during the period. Finally, Concord Wealth Partners raised its stake in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

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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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