Coinbase Global (NASDAQ:COIN) Now Covered by Analysts at Argus

Argus started coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report released on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $400.00 price target on the cryptocurrency exchange's stock.

COIN has been the topic of a number of other research reports. Citigroup reaffirmed a "buy" rating on shares of Coinbase Global in a research report on Wednesday, June 25th. Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. HC Wainwright reissued a "sell" rating and issued a $300.00 price target (down from $305.00) on shares of Coinbase Global in a research note on Thursday, July 10th. Barclays raised their price objective on shares of Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $313.10.

Coinbase Global Trading Up 1.8%

COIN traded up $7.18 during midday trading on Monday, hitting $405.38. 10,201,824 shares of the company were exchanged, compared to its average volume of 10,970,853. The firm's 50 day moving average price is $293.80 and its 200-day moving average price is $249.03. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $415.75. The firm has a market capitalization of $102.92 billion, a P/E ratio of 75.97, a P/E/G ratio of 29.52 and a beta of 3.70. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 earnings per share. As a group, equities analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the transaction, the insider directly owned 82,328 shares of the company's stock, valued at $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 165,443 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $395.82, for a total value of $65,485,648.26. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $208,201.32. This represents a 99.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 864,109 shares of company stock worth $295,681,757. Insiders own 17.65% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of COIN. Vanguard Group Inc. increased its position in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares during the period. Geode Capital Management LLC increased its holdings in Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after acquiring an additional 127,075 shares during the period. ARK Investment Management LLC lifted its stake in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock worth $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment boosted its holdings in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Coinbase Global during the 4th quarter valued at $536,484,000. Institutional investors own 68.84% of the company's stock.

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.