Coinbase Global (NASDAQ:COIN) Stock Price Down 1.6%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded down 1.6% on Friday . The company traded as low as $242.05 and last traded at $243.65. 1,686,611 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 12,132,121 shares. The stock had previously closed at $247.64.

Analyst Ratings Changes

A number of research analysts have issued reports on COIN shares. Barclays lifted their price objective on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. HC Wainwright lifted their price objective on Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Wednesday, June 5th. JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, Piper Sandler increased their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a 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 stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $214.67.

Check Out Our Latest Stock Analysis on COIN

Coinbase Global Price Performance

The company has a market cap of $59.18 billion, a P/E ratio of 48.63 and a beta of 3.44. 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 company has a fifty day moving average price of $229.07 and a two-hundred day moving average price of $194.14.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 15,580 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the transaction, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at $529,287.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at approximately $529,287.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 377,803 shares of company stock valued at $86,110,620. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently modified their holdings of the business. Barrett & Company Inc. acquired a new position in Coinbase Global during the fourth quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Geneos Wealth Management Inc. lifted 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 purchasing an additional 100 shares during the period. Finally, Mather Group LLC. bought a new position in Coinbase Global during the 1st quarter worth $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Company Profile

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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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