Coinbase Global, Inc. (NASDAQ:COIN) shares fell 4.3% during mid-day trading on Tuesday . The stock traded as low as $334.77 and last traded at $341.55. 9,379,528 shares changed hands during trading, a decline of 15% from the average session volume of 11,081,610 shares. The stock had previously closed at $356.99.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. BTIG Research initiated coverage on Coinbase Global in a report on Wednesday, October 1st. They set a "buy" rating and a $410.00 price target on the stock. Jefferies Financial Group increased their price target on Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Rothschild Redb raised Coinbase Global from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, Barclays lowered their price target on Coinbase Global from $365.00 to $361.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coinbase Global has an average rating of "Moderate Buy" and a consensus target price of $367.94.
Check Out Our Latest Stock Report on Coinbase Global
Coinbase Global Trading Down 4.3%
The stock has a fifty day moving average of $325.84 and a 200 day moving average of $289.77. The company has a market capitalization of $87.76 billion, a P/E ratio of 33.03 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business earned $0.14 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Insider Activity at Coinbase Global
In other news, CAO Jennifer N. Jones sold 1,756 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 372,815 shares of company stock worth $135,227,072 in the last 90 days. Insiders own 23.43% of the company's stock.
Institutional Trading of Coinbase Global
Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Cadent Capital Advisors LLC raised its position in shares of Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock valued at $1,108,000 after buying an additional 30 shares during the last quarter. Ameriflex Group Inc. increased its holdings in Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after acquiring an additional 30 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Coinbase Global by 37.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange's stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. Pettinga Financial Advisors LLC increased its holdings in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange's stock valued at $463,000 after acquiring an additional 34 shares during the last quarter. Finally, StoneX Group Inc. increased its holdings in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange's stock worth $690,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 68.84% of the company's stock.
About Coinbase Global
(
Get Free Report)
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.
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