Coinbase Global (NASDAQ:COIN) Trading Up 4.2% – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price rose 4.2% on Thursday . The company traded as high as $306.00 and last traded at $303.14. Approximately 3,239,711 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 8,047,217 shares. The stock had previously closed at $291.00.

Analyst Ratings Changes

Several research firms have issued reports on COIN. Oppenheimer dropped their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $250.00 to $290.00 in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day moving average of $288.00 and a 200-day moving average of $236.00. The firm has a market capitalization of $72.93 billion, a P/E ratio of 49.72 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,205 shares of company stock valued at $112,487,737 over the last quarter. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global in the third quarter worth $32,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 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.