Investors Purchase Large Volume of Coinbase Global Call Options (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the target of unusually large options trading activity on Wednesday. Traders bought 546,138 call options on the stock. This represents an increase of 137% compared to the typical daily volume of 230,316 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COIN shares. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. Oppenheimer set a $293.00 price target on shares of Coinbase Global in a report on Thursday, May 15th. Barclays boosted their price target on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target on the stock in a report on Monday, May 12th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of "Moderate Buy" and an average price target of $271.88.

Coinbase Global Stock Up 16.3%

COIN traded up $41.29 during trading on Wednesday, reaching $295.14. The stock had a trading volume of 24,225,550 shares, compared to its average volume of 10,194,573. The stock's 50 day moving average is $224.90 and its two-hundred day moving average is $240.73. 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 company has a market capitalization of $74.93 billion, a price-to-earnings ratio of 55.22, a P/E/G ratio of 19.06 and a beta of 3.61. Coinbase Global has a one year low of $142.58 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 EPS. As a group, analysts expect that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $255.34, for a total value of $6,383,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $134,308.84. The trade was a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the sale, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,717 shares of company stock worth $49,363,601 in the last ninety days. Company insiders own 23.43% of the company's stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the fourth quarter worth $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the fourth quarter valued at $26,000. Atala Financial Inc bought a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at $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. Institutional investors own 68.84% of the company's stock.

Coinbase Global Company Profile

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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