Coinbase Global (NASDAQ:COIN) Trading 0% Higher

Coinbase Global, Inc. (NASDAQ:COIN)'s stock price traded up 0% during trading on Wednesday . The stock traded as high as $214.38 and last traded at $214.36. 2,156,930 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 13,106,814 shares. The stock had previously closed at $214.34.

Analyst Ratings Changes

Several equities analysts recently weighed in on COIN shares. Canaccord Genuity Group lifted their target price on Coinbase Global from $240.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, May 3rd. HC Wainwright boosted their price objective on Coinbase Global from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, April 29th. Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a "market perform" rating in a report on Thursday, April 18th. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a "neutral" rating for the company in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $193.85.

Coinbase Global Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $51.17 billion, a PE ratio of 42.79 and a beta of 3.46. The company has a fifty day moving average price of $237.33 and a 200-day moving average price of $169.13.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm's revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.46) EPS. As a group, analysts expect that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now owns 66,122 shares of the company's stock, valued at $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The disclosure for this sale can be found here. Insiders sold 361,542 shares of company stock valued at $81,392,237 over the last three months. 33.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange's stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange's stock worth $30,000 after purchasing an additional 87 shares during the period. Mather Group LLC. bought a new position in shares of Coinbase Global during the first quarter valued at approximately $32,000. Barrett & Company Inc. purchased a new position in Coinbase Global during the fourth quarter valued at approximately $26,000. Finally, Creekmur Asset Management LLC bought a new position in Coinbase Global in the fourth quarter worth approximately $27,000. 68.84% of the stock is currently owned by institutional investors.

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.

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