Coinbase Global (NASDAQ:COIN) Trading Down 5%

Coinbase Global, Inc. (NASDAQ:COIN) shares traded down 5% during trading on Friday . The company traded as low as $222.22 and last traded at $223.36. 3,576,330 shares were traded during trading, a decline of 70% from the average session volume of 11,966,224 shares. The stock had previously closed at $235.03.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wedbush boosted their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Mizuho boosted their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $215.50.

Read Our Latest Analysis on COIN

Coinbase Global Trading Down 4.1 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $227.90 and its 200-day moving average is $198.05. The firm has a market capitalization of $55.38 billion, a P/E ratio of 44.58 and a beta of 3.44.

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

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the completion of the transaction, the chief operating officer now directly owns 204,436 shares in the company, valued at approximately $40,049,012.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Insiders sold a total of 378,158 shares of company stock worth $86,182,160 in the last ninety days. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently made changes to their positions in COIN. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares in the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter valued at $202,936,000. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $147,646,000. Morgan Stanley raised its stake in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares in the last quarter. Finally, Hamilton Lane Advisors LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $88,015,000. 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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