Coinbase Global (NASDAQ:COIN) Stock Price Up 5.3% Following Analyst Upgrade

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded up 5.3% during trading on Thursday after Sanford C. Bernstein raised their price target on the stock from $80.00 to $200.00. Sanford C. Bernstein currently has a market perform rating on the stock. Coinbase Global traded as high as $226.39 and last traded at $225.07. 3,745,176 shares were traded during trading, a decline of 73% from the average session volume of 13,902,937 shares. The stock had previously closed at $213.78.

COIN has been the subject of a number of other reports. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Bank of America lifted their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.43.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total value of $12,872,282.52. Following the completion of the sale, the director now owns 6,072 shares in the company, valued at approximately $798,893.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the sale, the director now owns 6,072 shares in the company, valued at approximately $798,893.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 590,978 shares of company stock worth $103,440,000. 33.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently modified their holdings of the business. Fountainhead AM LLC grew its position in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after buying an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors grew its holdings in Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Coinbase Global by 2.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after purchasing an additional 90 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Coinbase Global by 34.5% during the fourth quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock valued at $61,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

The stock has a market cap of $52.83 billion, a price-to-earnings ratio of 807.70 and a beta of 3.41. The stock’s fifty day moving average is $223.31 and its 200-day moving average is $154.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.46) earnings per share. On average, analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current year.

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.