Coinbase Global, Inc. (NASDAQ:COIN) gapped up before the market opened on Tuesday . The stock had previously closed at $179.23, but opened at $186.00. Coinbase Global shares last traded at $186.80, with a volume of 1,513,185 shares.
Analyst Ratings Changes
COIN has been the topic of several research analyst reports. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday. Barclays increased their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. HC Wainwright restated a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, Rosenblatt Securities assumed coverage on shares of Coinbase Global in a report on Friday, March 7th. They set a "buy" rating and a $305.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average price target of $307.89.
Read Our Latest Report on COIN
Coinbase Global Stock Performance
The company's fifty day moving average price is $258.42 and its 200 day moving average price is $241.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $48.68 billion, a PE ratio of 20.18 and a beta of 3.66.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company's stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last quarter. 23.43% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Coinbase Global
A number of large investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after acquiring an additional 106 shares during the period. 68.84% of the stock is currently owned by institutional investors.
About Coinbase Global
(
Get Free Report)
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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