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

Coinbase Global, Inc. (NASDAQ:COIN) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 9,880,000 shares, a growth of 7.6% from the November 15th total of 9,180,000 shares. Approximately 5.1% of the company's shares are sold short. Based on an average daily volume of 12,880,000 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COIN shares. Piper Sandler restated a "neutral" rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $276.22.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,720 shares of company stock valued at $79,787,248 in the last ninety days. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clear Street Derivatives LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $409,919,000. Renaissance Technologies LLC increased its holdings in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. American Century Companies Inc. lifted its stake in Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Finally, Azora Capital LP lifted its stake in Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock worth $57,525,000 after acquiring an additional 220,078 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

NASDAQ:COIN traded up $4.73 during trading hours on Monday, hitting $315.31. 11,434,341 shares of the stock were exchanged, compared to its average volume of 11,260,563. The firm's fifty day moving average price is $256.88 and its 200 day moving average price is $224.91. Coinbase Global has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a market cap of $78.94 billion, a P/E ratio of 53.00 and a beta of 3.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the company posted ($0.01) EPS. The firm's revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global will post 4.44 EPS for the current fiscal year.

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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