Coinbase Global, Inc. (NASDAQ:COIN) Short Interest Update

Coinbase Global, Inc. (NASDAQ:COIN) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,820,000 shares, a decline of 10.3% from the October 15th total of 9,830,000 shares. Currently, 4.6% of the company's shares are short sold. Based on an average daily volume of 9,760,000 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. JMP Securities reissued a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research report on Thursday, October 31st. Finally, Barclays upped their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Coinbase Global has a consensus rating of "Hold" and a consensus target price of $251.00.

Coinbase Global Stock Up 6.4 %

COIN traded up $19.56 on Monday, reaching $325.41. The company's stock had a trading volume of 25,629,448 shares, compared to its average volume of 11,041,122. The stock has a 50 day moving average of $202.13 and a two-hundred day moving average of $212.58. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $81.47 billion, a price-to-earnings ratio of 55.53 and a beta of 3.34. Coinbase Global has a fifty-two week low of $100.01 and a fifty-two week high of $334.86.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, analysts forecast that Coinbase Global will post 4.27 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares of the company's stock, valued at $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick R. Wilson sold 40,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,822 shares of company stock worth $30,921,194. Company insiders own 23.43% of the company's stock.

Institutional Trading of Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. TD Private Client Wealth LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at approximately $77,000. Sunbelt Securities Inc. lifted its position in shares of Coinbase Global by 25.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange's stock valued at $124,000 after acquiring an additional 143 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Coinbase Global by 17.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange's stock valued at $517,000 after acquiring an additional 402 shares in the last quarter. Geode Capital Management LLC lifted its position in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after buying an additional 314,388 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Coinbase Global by 18.3% in the 3rd quarter. M&T Bank Corp now owns 7,100 shares of the cryptocurrency exchange's stock worth $1,265,000 after buying an additional 1,100 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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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