Coinbase Global (NASDAQ:COIN) Trading Down 1.2%

Coinbase Global, Inc. (NASDAQ:COIN) was down 1.2% on Tuesday . The company traded as low as $271.10 and last traded at $276.42. Approximately 4,649,565 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 15,049,954 shares. The stock had previously closed at $279.71.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COIN shares. Mizuho increased their price objective on Coinbase Global from $60.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Oppenheimer upped their price target on shares of Coinbase Global from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. HC Wainwright upped their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $136.30.

Coinbase Global Price Performance

The firm has a market cap of $62.19 billion, a P/E ratio of 950.74 and a beta of 3.36. The business’s fifty day simple moving average is $185.44 and its 200-day simple moving average is $136.47. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same period in the previous year, the business earned ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, analysts forecast that Coinbase Global, Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the completion of the sale, the insider now directly owns 61,665 shares in the company, valued at $7,462,698.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Marc L. Andreessen sold 33,992 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total value of $5,571,628.72. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $764,148.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The disclosure for this sale can be found here. Insiders sold a total of 742,727 shares of company stock worth $112,716,312 over the last three months. Company insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Mariner LLC increased its stake in shares of Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after buying an additional 125 shares during the last quarter. Barclays PLC grew its holdings in shares of Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after buying an additional 118,670 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Coinbase Global by 31.8% during the third quarter. Wellington Management Group LLP now owns 50,925 shares of the cryptocurrency exchange’s stock valued at $3,823,000 after buying an additional 12,301 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Coinbase Global by 25.4% during the third quarter. California Public Employees Retirement System now owns 304,653 shares of the cryptocurrency exchange’s stock valued at $22,873,000 after buying an additional 61,788 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

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.