Coinbase Global (NASDAQ:COIN) Trading 4.4% Higher

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded up 4.4% during mid-day trading on Monday . The stock traded as high as $130.96 and last traded at $130.77. 3,107,590 shares traded hands during trading, a decline of 79% from the average session volume of 14,822,271 shares. The stock had previously closed at $125.20.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Barclays lowered their price target on shares of Coinbase Global from $70.00 to $68.00 and set an “underweight” rating on the stock in a report on Tuesday, October 10th. Citigroup boosted their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Bank of America lowered their price target on shares of Coinbase Global from $63.00 to $60.00 in a report on Thursday, October 12th. Oppenheimer upgraded shares of Coinbase Global from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Friday, January 26th. Finally, JMP Securities upped their price objective on shares of Coinbase Global from $107.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Seven equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $103.68.

Get Our Latest Report on Coinbase Global

Coinbase Global Stock Performance

The stock has a market cap of $31.30 billion, a price-to-earnings ratio of -40.50 and a beta of 3.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $143.36 and its two-hundred day simple moving average is $104.42.

Coinbase Global (NASDAQ:COINGet Free Report) last released its earnings results on Thursday, November 2nd. The cryptocurrency exchange reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.53. The firm had revenue of $674.15 million during the quarter, compared to analyst estimates of $656.61 million. Coinbase Global had a negative net margin of 26.42% and a negative return on equity of 10.90%. Analysts forecast that Coinbase Global, Inc. will post -0.41 earnings per share for the current year.

Insider Activity

In other news, CAO Jennifer N. Jones sold 1,704 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $108.45, for a total transaction of $184,798.80. Following the completion of the transaction, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at $2,973,373.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederick Ernest Ehrsam III sold 81,530 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70. Following the completion of the transaction, the director now owns 120,214 shares of the company’s stock, valued at $14,580,756.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,704 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $108.45, for a total transaction of $184,798.80. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at approximately $2,973,373.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,127,836 shares of company stock valued at $158,622,054. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COIN. Fairfield Bush & CO. raised its position in Coinbase Global by 18.4% in the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after purchasing an additional 275 shares in the last quarter. United Bank acquired a new position in Coinbase Global in the first quarter worth about $286,000. Bank of New York Mellon Corp raised its position in Coinbase Global by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after purchasing an additional 1,844 shares in the last quarter. American Century Companies Inc. raised its position in Coinbase Global by 269.2% in the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after purchasing an additional 5,211 shares in the last quarter. Finally, Synovus Financial Corp raised its position in Coinbase Global by 26.6% in the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.

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