Coinbase Global (NASDAQ:COIN) Shares Down 0.2%

Coinbase Global, Inc. (NASDAQ:COIN) fell 0.2% during trading on Monday . The company traded as low as $169.70 and last traded at $169.71. 1,487,840 shares changed hands during trading, a decline of 86% from the average session volume of 10,439,459 shares. The stock had previously closed at $170.09.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COIN shares. HC Wainwright decreased their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group cut their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Price Performance

The stock has a market cap of $41.73 billion, a PE ratio of 34.28 and a beta of 3.36. The stock’s fifty day moving average is $198.85 and its 200-day moving average is $221.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $115,883.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,562 shares of company stock worth $23,115,399. 23.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC raised its holdings in Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.