Coinbase Global, Inc. (NASDAQ:COIN)'s stock price rose 3.8% during trading on Wednesday . The company traded as high as $345.83 and last traded at $348.21. Approximately 3,345,330 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 10,715,670 shares. The stock had previously closed at $335.33.
Analyst Upgrades and Downgrades
Several analysts have issued reports on COIN shares. Canaccord Genuity Group restated a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. Piper Sandler increased their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Monday, June 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $291.06.
Check Out Our Latest Report on Coinbase Global
Coinbase Global Trading Up 5.0%
The stock has a market cap of $89.40 billion, a P/E ratio of 66.15, a PEG ratio of 25.64 and a beta of 3.70. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock's fifty day moving average price is $256.09 and its 200 day moving average price is $241.87.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company's revenue was up 24.2% on a year-over-year basis. During the same period last year, the business earned $2.53 earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.
Insider Buying and Selling
In other Coinbase Global news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the transaction, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $280.02, for a total value of $546,599.04. Following the transaction, the insider owned 82,328 shares of the company's stock, valued at $23,053,486.56. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 665,915 shares of company stock valued at $212,665,732. 23.43% of the stock is owned by company insiders.
Institutional Trading of Coinbase Global
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new stake in Coinbase Global during the 4th quarter valued at $26,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Coinbase Global in the fourth quarter worth $35,000. Finally, Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global during the fourth quarter valued at $37,245,000. 68.84% of the stock is currently owned by institutional investors.
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.
Further Reading
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