From MarketBeat Media:

Coinbase Global, Inc. (NASDAQ:COIN) saw a 5.4% decrease in trading following insider selling activity, with 7,813,723 shares trading hands. CEO Brian Armstrong sold 18,500 shares at an average price of $96.38, totaling $1,783,030. CFO Alesia J. Haas sold 1,000 shares at $175.00 each, totaling $175,000. Corporate insiders have sold 938,470 shares in the last 90 days. 33.16% of the company is owned by insiders.

Recently, analysts have weighed in on the future of Coinbase Global, Inc. Needham & Company LLC upped their price objective on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating. Citigroup cut their price target on Coinbase Global from $105.00 to $90.00 and set a “neutral” rating for the company. Coinbase Global currently has an average rating of “Hold” and a consensus target price of $95.95.

Coinbase Global stock is down 5.6% with a market cap of $30.25 billion, a P/E ratio of -39.20 and a beta of 3.17. The company’s 50-day simple moving average is $138.24 and its 200 day simple moving average is $101.80.

Hedge funds added to their stakes in Coinbase Global, with institutional investors now owning 45.96% of the company’s stock. Lazard Asset Management LLC boosted its stake in the company by 3,355.6% during the first quarter. Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers primary financial accounts for consumers, a marketplace with a pool of liquidity for institutions, and technology and services for developers to build crypto-based applications and accept crypto assets as payment.

For the most accurate reporting, this story was reviewed by MarketBeat’s editorial team prior to publication.



Read more: Coinbase Global (NASDAQ:COIN) Stock Price Down 5.4% After Insider Selling