Coinbase Global, Inc. (NASDAQ:COIN)'s share price shot up 0.7% on Friday . The stock traded as high as $303.60 and last traded at $303.30. 1,704,195 shares were traded during mid-day trading, a decline of 79% from the average session volume of 7,996,029 shares. The stock had previously closed at $301.30.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on COIN shares. Oppenheimer reduced their price objective on Coinbase Global from $358.00 to $334.00 and set an "outperform" rating for the company in a report on Friday, January 17th. HC Wainwright restated a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Canaccord Genuity Group reissued a "buy" rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $275.00 to $255.00 and set a "market perform" rating on the stock in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $289.06.
Check Out Our Latest Stock Report on Coinbase Global
Coinbase Global Stock Performance
The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $72.93 billion, a price-to-earnings ratio of 49.72 and a beta of 3.59. The stock's 50-day moving average is $288.00 and its 200-day moving average is $236.00.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results 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). 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%. The firm's quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. On average, analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,205 shares of company stock valued at $112,487,737 in the last 90 days. Corporate insiders own 23.43% of the company's stock.
Institutional Trading of Coinbase Global
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after acquiring an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $32,000. Finally, Bogart Wealth LLC boosted its position in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.
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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