Coinbase Global (NASDAQ:COIN) Trading 6% Higher – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN) shares shot up 6% on Thursday . The stock traded as high as $314.29 and last traded at $310.98. 13,258,283 shares were traded during trading, an increase of 18% from the average session volume of 11,204,882 shares. The stock had previously closed at $293.29.

Analyst Ratings Changes

Several equities analysts recently issued reports on COIN shares. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Barclays increased their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $255.22.

Coinbase Global Stock Up 6.0 %

The stock has a fifty day moving average price of $219.83 and a two-hundred day moving average price of $216.55. The company has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s revenue was up 78.8% compared to the same quarter last year. On average, research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 239,219 shares of company stock valued at $65,593,121 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of large investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth $25,000. Crewe Advisors LLC lifted its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the second quarter valued at approximately $29,000. Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $32,000. 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.