Coinbase Global, Inc. (NASDAQ:COIN)’s stock price was down 2.8% during trading on Tuesday following insider selling activity. The stock traded as low as $90.00 and last traded at $90.05. Approximately 6,807,792 shares changed hands during trading, a decline of 53% from the average daily volume of 14,540,553 shares. The stock had previously closed at $92.64.
Specifically, insider Paul Grewal sold 2,402 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $74.07, for a total transaction of $177,916.14. Following the completion of the sale, the insider now owns 64,067 shares of the company’s stock, valued at $4,745,442.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Kathryn Haun sold 5,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $99.00, for a total value of $495,000.00. Following the completion of the sale, the director now owns 112,593 shares in the company, valued at approximately $11,146,707. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 2,402 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $74.07, for a total value of $177,916.14. Following the transaction, the insider now owns 64,067 shares in the company, valued at $4,745,442.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,757 shares of company stock worth $2,802,704. Insiders own 33.16% of the company’s stock.
Wall Street Analyst Weigh In
COIN has been the subject of several research reports. Mizuho lifted their target price on Coinbase Global from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, November 10th. HC Wainwright raised their price objective on shares of Coinbase Global from $77.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Barclays cut their target price on shares of Coinbase Global from $70.00 to $68.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 10th. Bank of America reduced their target price on shares of Coinbase Global from $63.00 to $60.00 in a report on Thursday, October 12th. Finally, Compass Point boosted their price target on shares of Coinbase Global from $100.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $75.64.
Coinbase Global Trading Down 0.6 %
The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $22.03 billion, a PE ratio of -28.51 and a beta of 2.65. The business’s 50-day moving average is $78.88 and its two-hundred day moving average is $74.97.
Institutional Trading of Coinbase Global
Institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC boosted its position in shares of Coinbase Global by 35.7% during the 3rd quarter. Lazard Asset Management LLC now owns 3,294 shares of the cryptocurrency exchange’s stock worth $247,000 after purchasing an additional 866 shares in the last quarter. Jasper Ridge Partners L.P. boosted its holdings in Coinbase Global by 0.6% during the third quarter. Jasper Ridge Partners L.P. now owns 31,413 shares of the cryptocurrency exchange’s stock worth $2,358,000 after buying an additional 198 shares in the last quarter. Corton Capital Inc. grew its position in Coinbase Global by 17.1% during the third quarter. Corton Capital Inc. now owns 15,762 shares of the cryptocurrency exchange’s stock worth $1,183,000 after buying an additional 2,297 shares during the period. Itau Unibanco Holding S.A. increased its holdings in Coinbase Global by 10.0% in 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 in the last quarter. Finally, Bank of Nova Scotia purchased a new position in Coinbase Global in the third quarter valued at about $450,000. 45.96% of the stock is currently owned by hedge funds and other institutional investors.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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