Coinbase Global (NASDAQ:COIN) Trading Up 3.8%

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was up 3.8% during mid-day trading on Tuesday . The stock traded as high as $220.50 and last traded at $220.44. Approximately 2,032,403 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 11,938,713 shares. The stock had previously closed at $212.31.

Analyst Ratings Changes

Several equities research analysts have issued reports on COIN shares. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer boosted their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a report on Tuesday, June 18th. Finally, Wedbush upped their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Trading Down 3.2 %

The company’s 50-day moving average is $227.36 and its 200-day moving average is $200.66. The firm has a market cap of $52.69 billion, a price-to-earnings ratio of 42.83 and a beta of 3.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, research analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $256.30, for a total transaction of $5,914,122.50. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $134,813.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now directly owns 207,471 shares of the company’s stock, valued at approximately $51,071,061.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 350,021 shares of company stock worth $78,461,322. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently modified their holdings of COIN. PNC Financial Services Group Inc. increased its stake in shares of Coinbase Global by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock valued at $378,000 after acquiring an additional 145 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Coinbase Global by 4.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,338 shares of the cryptocurrency exchange’s stock valued at $551,000 after acquiring an additional 293 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Coinbase Global by 55.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock valued at $3,579,000 after acquiring an additional 16,914 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Coinbase Global by 122.3% in the 3rd quarter. Federated Hermes Inc. now owns 59,833 shares of the cryptocurrency exchange’s stock valued at $4,492,000 after acquiring an additional 32,919 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after purchasing an additional 37,019 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

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.