Coinbase Global, Inc. (NASDAQ:COIN)'s stock price was down 4.7% during mid-day trading on Monday after an insider sold shares in the company.
Coinbase Global, Inc. (NASDAQ:COIN) saw a decrease of 4.7% in mid-day trading on Monday, reversing earlier gains as an insider sold shares in the company. The stock traded as low as $199.73 and was last seen at $199.70. Around 3,127,739 shares were exchanged hands, compared to an average volume of 9,693,077. The stock had closed the previous day at $209.64.
CEO Brian Armstrong sold 20,000 shares of the stock in a transaction dated Wednesday, April 23. The shares were sold at an average price of $198.44, for a total value of $3,968,800. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $104,379.44. This represents a 97.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Also, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 23. The shares were sold at an average price of $200.00, for a total value of $1,515,000. Following the completion of the sale, the chief financial officer now owns 107,291 shares of the company’s stock, valued at $21,458,200. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 23. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. The trade represents a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
COIN has been the topic of several recent research reports. Mizuho lowered their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14. JMP Securities cut their target price on Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $289.90.
The stock has a 50-day moving average price of $190.84 and a 200 day moving average price of $243.62. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $52.11 billion, a price-to-earnings ratio of 21.61 and a beta of 3.65.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings data on Thursday, February 13. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a
