Coinbase Global (NASDAQ:COIN) Shares Up 7.8% - Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN)'s stock price shot up 7.8% during trading on Tuesday . The stock traded as high as $188.55 and last traded at $188.60. 3,313,415 shares were traded during trading, a decline of 66% from the average session volume of 9,640,185 shares. The stock had previously closed at $175.00.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Barclays cut their target price on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $295.65.

Coinbase Global Stock Up 2.8 %

The stock's 50-day moving average price is $191.91 and its two-hundred day moving average price is $242.35. The stock has a market capitalization of $53.22 billion, a PE ratio of 22.07 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 20,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $104,379.44. This represents a 97.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now directly owns 107,291 shares in the company, valued at approximately $21,458,200. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,970 shares of company stock valued at $38,672,615. Corporate insiders own 23.43% of the company's stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $25,000. Copia Wealth Management purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares in the last quarter. Hedge funds and other 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.