Coinbase Global (NASDAQ:COIN) Stock Price Down 1% – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price fell 1% during trading on Tuesday . The stock traded as low as $273.62 and last traded at $292.60. 5,593,800 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 7,559,510 shares. The stock had previously closed at $295.48.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. One 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 stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $74.11 billion, a PE ratio of 50.51 and a beta of 3.59. The company’s 50 day moving average is $290.36 and its 200-day moving average is $232.75.

Coinbase Global (NASDAQ:COIN) last announced 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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current 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 that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now owns 74,956 shares in the company, valued at $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 377,489 shares of company stock valued at $111,724,097 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the period. Pallas Capital Advisors LLC lifted its holdings in Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after acquiring an additional 51 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of Coinbase Global by 2.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock valued at $504,000 after purchasing an additional 56 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

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.