Coinbase Global (NASDAQ:COIN) Shares Gap Up to $162.64

Coinbase Global, Inc. (NASDAQ:COIN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $162.64, but opened at $172.00. Coinbase Global shares last traded at $171.02, with a volume of 1,670,684 shares.

Analyst Ratings Changes

COIN has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Bank of America reduced their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Price Performance

The company’s 50 day simple moving average is $199.80 and its two-hundred day simple moving average is $222.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) EPS. As a group, equities analysts expect that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,562 shares of company stock worth $23,115,399. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creekmur Asset Management LLC bought a new position in Coinbase Global in the fourth quarter worth approximately $27,000. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in Coinbase Global in the 2nd quarter worth about $29,000. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. 68.84% of the stock is currently 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.