Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 3.6% on Friday . The stock traded as high as $256.17 and last traded at $252.90. 2,556,635 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 10,127,095 shares. The stock had previously closed at $244.20.
Wall Street Analysts Forecast Growth
COIN has been the topic of several research reports. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Jefferies Financial Group reiterated a "hold" rating and issued a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. Barclays boosted their price objective on Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Rosenblatt Securities restated a "buy" rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Coinbase Global has a consensus rating of "Moderate Buy" and an average target price of $266.10.
Check Out Our Latest Stock Report on Coinbase Global
Coinbase Global Stock Performance
The company's 50-day moving average is $211.17 and its two-hundred day moving average is $244.28. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $64.05 billion, a P/E ratio of 26.55 and a beta of 3.61.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm's revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.
Insider Buying and Selling at Coinbase Global
In other news, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $104,226.90. This represents a 95.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 107,291 shares in the company, valued at $21,458,200. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,717 shares of company stock valued at $42,980,101. Company 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. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the 4th quarter worth about $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Coinbase Global during the fourth quarter valued at approximately $35,000. Institutional investors own 68.84% of the company's stock.
Coinbase Global Company Profile
(
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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