Coinbase Global (NASDAQ:COIN) Stock Price Up 1.1%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were up 1.1% on Wednesday . The stock traded as high as $229.59 and last traded at $228.20. Approximately 2,191,311 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 12,606,998 shares. The stock had previously closed at $225.78.

Wall Street Analyst Weigh In

A number of research firms recently commented on COIN. JPMorgan Chase & Co. increased their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, March 15th. Singular Research restated a "buy" rating on shares of Coinbase Global in a research report on Wednesday, May 8th. The Goldman Sachs Group decreased their price target on Coinbase Global from $295.00 to $255.00 and set a "neutral" rating on the stock in a research report on Friday, May 3rd. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Friday, May 3rd. Finally, Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an "underperform" rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average target price of $214.67.

Coinbase Global Trading Up 2.5 %

The company has a fifty day simple moving average of $233.30 and a two-hundred day simple moving average of $178.43. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $56.85 billion, a P/E ratio of 45.55 and a beta of 3.46.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,257 shares of the business's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company's stock, valued at $4,933,575. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 470,563 shares of company stock worth $104,873,137. Corporate insiders own 33.16% of the company's stock.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Concord Wealth Partners boosted its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange's stock worth $30,000 after acquiring an additional 87 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange's stock worth $30,000 after acquiring an additional 100 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of Coinbase Global during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 68.84% of the company's stock.

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.