Coinbase Global (NASDAQ:COIN) Stock Price Up 0.9%

Coinbase Global, Inc. (NASDAQ:COIN)’s share price shot up 0.9% during mid-day trading on Monday . The company traded as high as $255.42 and last traded at $245.18. 3,982,036 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 11,324,877 shares. The stock had previously closed at $242.93.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COIN. Piper Sandler increased their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. HC Wainwright reiterated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a report on Tuesday, June 18th. Barclays dropped their price target on Coinbase Global from $204.00 to $196.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Friday, July 19th. Finally, Wedbush increased their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $237.50.

Coinbase Global Trading Down 4.2 %

The business’s 50-day simple moving average is $235.45 and its two-hundred day simple moving average is $213.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $55.12 billion, a PE ratio of 44.80 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. On average, analysts predict that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the sale, the chief operating officer now owns 204,436 shares in the company, valued at $40,049,012.40. The sale was disclosed in a legal filing 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 dated Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the transaction, the chief operating officer now owns 204,436 shares of the company’s stock, valued at $40,049,012.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 17,444 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total value of $4,170,337.08. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at $17,020,588.65. The disclosure for this sale can be found here. Insiders have sold a total of 280,176 shares of company stock valued at $60,913,978 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new position in Coinbase Global in the fourth quarter worth about $27,000. Crewe Advisors LLC boosted its stake in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the second quarter valued at approximately $29,000. Finally, Concord Wealth Partners grew its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

About Coinbase Global

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.