Coinbase Global (NASDAQ:COIN) Stock Price Up 1.9%

Coinbase Global, Inc. (NASDAQ:COIN) shot up 1.9% during mid-day trading on Friday . The company traded as high as $218.95 and last traded at $218.78. 1,450,268 shares changed hands during trading, a decline of 87% from the average session volume of 11,453,078 shares. The stock had previously closed at $214.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a report on Tuesday, June 18th. Piper Sandler increased their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. The Goldman Sachs Group cut their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays cut their price objective on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $212.83.

Coinbase Global Trading Up 1.6 %

The stock has a market capitalization of $53.56 billion, a P/E ratio of 43.67 and a beta of 3.40. The firm’s 50-day simple moving average is $227.73 and its 200 day simple moving average is $205.56. 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 posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Equities research analysts anticipate that Coinbase Global, Inc. will post 5 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the transaction, the chief financial officer now directly owns 192,622 shares in the company, valued at $47,681,649.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was 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 approximately $14,644,039.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,200 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The disclosure for this sale can be found here. Insiders have sold 314,136 shares of company stock valued at $68,855,464 over the last three months. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Fountainhead AM LLC increased its stake in shares of Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after acquiring an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares during the last quarter. Nilsine Partners LLC raised its holdings in shares of Coinbase Global by 1.2% during the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after acquiring an additional 81 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its position in Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares during 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.