Coinbase Global (NASDAQ:COIN) Trading Up 1.9%

Coinbase Global, Inc. (NASDAQ:COIN) shares were up 1.9% during mid-day trading on Friday . The stock traded as high as $262.26 and last traded at $262.00. Approximately 2,539,397 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 12,287,224 shares. The stock had previously closed at $257.08.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Barclays boosted their price target on Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research note on Monday, May 6th. Mizuho boosted their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Sanford C. Bernstein lifted their target price on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $214.67.

Read Our Latest Analysis on COIN

Coinbase Global Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $229.12 and a 200 day moving average of $190.87. The stock has a market capitalization of $59.96 billion, a PE ratio of 48.73 and a beta of 3.44.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $245.00, for a total value of $367,500.00. Following the completion of the sale, the chief operating officer now directly owns 226,051 shares in the company, valued at approximately $55,382,495. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $245.00, for a total transaction of $367,500.00. Following the completion of the transaction, the chief operating officer now directly owns 226,051 shares in the company, valued at approximately $55,382,495. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,750 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $225.35, for a total value of $1,070,412.50. Following the transaction, the chief financial officer now owns 196,740 shares of the company’s stock, valued at $44,335,359. The disclosure for this sale can be found here. Insiders sold a total of 400,433 shares of company stock worth $91,455,327 in the last three months. 23.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of COIN. Raymond James & Associates lifted its stake in Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares in the last quarter. KBC Group NV lifted its stake in Coinbase Global by 26.2% during the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock worth $3,793,000 after acquiring an additional 4,524 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth about $302,000. Russell Investments Group Ltd. lifted its stake in Coinbase Global by 10.4% during the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock worth $3,142,000 after acquiring an additional 1,685 shares in the last quarter. Finally, Mariner LLC lifted its stake in Coinbase Global by 5.4% during the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

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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.

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