Coinbase Global, Inc. (NASDAQ:COIN) Short Interest Up 27.3% in February

Coinbase Global, Inc. (NASDAQ:COIN) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 9,840,000 shares, an increase of 27.3% from the February 13th total of 7,730,000 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average trading volume of 9,710,000 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler increased their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Rosenblatt Securities began coverage on shares of Coinbase Global in a report on Friday, March 7th. They set a “buy” rating and a $305.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.67.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 in the last quarter. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Principal Financial Group Inc. grew its holdings in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Coinbase Global by 12.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock worth $276,000 after purchasing an additional 173 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Coinbase Global by 8.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after buying an additional 110 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Coinbase Global by 8.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,307 shares of the cryptocurrency exchange’s stock worth $233,000 after acquiring an additional 107 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Coinbase Global by 6.7% in the 3rd quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock worth $11,552,000 after acquiring an additional 4,076 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

COIN traded up $4.43 on Monday, reaching $187.55. The company had a trading volume of 3,799,519 shares, compared to its average volume of 9,400,744. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The stock has a market capitalization of $47.62 billion, a PE ratio of 19.75 and a beta of 3.66. The stock has a 50-day moving average price of $255.08 and a 200-day moving average price of $241.14.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, research analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

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.