Coinbase Global (NASDAQ:COIN) Trading 6.9% Higher – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN) shot up 6.9% on Friday . The company traded as high as $273.50 and last traded at $273.25. 6,316,977 shares changed hands during trading, a decline of 40% from the average session volume of 10,575,240 shares. The stock had previously closed at $255.58.

Analysts Set New Price Targets

COIN has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Bank of America raised their target price 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. Barclays upped their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Monness Crespi & Hardt started coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Trading Up 5.9 %

The business has a fifty day moving average price of $183.17 and a two-hundred day moving average price of $208.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $67.27 billion, a PE ratio of 46.63 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,187 shares of company stock worth $15,213,544 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of COIN. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coinbase Global during the 3rd quarter worth $809,000. Prospera Financial Services Inc grew its holdings in Coinbase Global by 3.6% in the third quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock valued at $353,000 after purchasing an additional 68 shares during the last quarter. Caprock Group LLC raised its position in Coinbase Global by 43.0% during the third quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock worth $2,942,000 after acquiring an additional 4,965 shares during the last quarter. Windle Wealth LLC lifted its stake in Coinbase Global by 2.4% in the 3rd quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange’s stock valued at $1,224,000 after buying an additional 158 shares in the last quarter. Finally, CAP Partners LLC increased its position in Coinbase Global by 12.8% during the third quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange’s stock worth $1,103,000 after buying an additional 704 shares in 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.