Coinbase Global (NASDAQ:COIN) Trading Down 0.6%

Coinbase Global, Inc. (NASDAQ:COIN) dropped 0.6% during mid-day trading on Monday . The stock traded as low as $252.84 and last traded at $256.28. Approximately 4,261,675 shares were traded during trading, a decline of 63% from the average daily volume of 11,409,809 shares. The stock had previously closed at $257.79.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Oppenheimer upped their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $225.38.

Coinbase Global Trading Up 2.9 %

The stock has a market cap of $65.11 billion, a PE ratio of 51.15 and a beta of 3.40. The stock’s fifty day moving average price is $231.04 and its 200 day moving average price is $208.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 5 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the transaction, the chief accounting officer now owns 2,212 shares in the company, valued at $529,287.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at $529,287.36. The disclosure for this sale can be found here. Insiders have sold a total of 298,056 shares of company stock worth $64,899,898 over the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 18.4% in the first 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. Norges Bank purchased a new position in Coinbase Global during the fourth quarter valued at $202,936,000. a16z Perennial Management L.P. purchased a new position in Coinbase Global during the fourth quarter valued at $147,646,000. Charles Schwab Investment Management Inc. grew its stake in Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after acquiring an additional 37,847 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other 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.