Coinbase Global (NASDAQ:COIN) Shares Gap Up to $225.19

Coinbase Global, Inc. (NASDAQ:COIN)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $225.19, but opened at $231.97. Coinbase Global shares last traded at $225.50, with a volume of 3,675,257 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on COIN shares. Sanford C. Bernstein lifted their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Canaccord Genuity Group boosted their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $214.67.

Coinbase Global Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day simple moving average of $232.90 and a two-hundred day simple moving average of $178.81. The firm has a market capitalization of $56.85 billion, a P/E ratio of 46.21 and a beta of 3.46.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $134,813.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,563 shares of company stock worth $104,873,137. Corporate insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the business. Raymond James & Associates increased its holdings in Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. Masso Torrence Wealth Management Inc. purchased a new stake in Coinbase Global in the 4th quarter worth about $302,000. Russell Investments Group Ltd. increased its holdings in Coinbase Global by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock worth $3,142,000 after acquiring an additional 1,685 shares during the last quarter. Mariner LLC increased its holdings in Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after acquiring an additional 125 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.