Coinbase Global, Inc. (NASDAQ:COIN)'s share price shot up 7.8% during mid-day trading on Tuesday . The company traded as high as $188.55 and last traded at $188.60. 3,313,415 shares were traded during mid-day trading, a decline of 66% from the average session volume of 9,640,185 shares. The stock had previously closed at $175.00.
Analyst Ratings Changes
COIN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Rosenblatt Securities reduced their price target on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. Oppenheimer restated an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $295.65.
Read Our Latest Research Report on COIN
Coinbase Global Price Performance
The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 22.07 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average price is $191.91 and its 200-day moving average price is $242.35.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares of the company's stock, valued at $22,973,200. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated 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 sale, the insider now owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,970 shares of company stock valued at $38,672,615. 23.43% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Coinbase Global during the 3rd quarter worth about $3,866,000. Wilmington Savings Fund Society FSB purchased a new stake in Coinbase Global during the third quarter worth about $94,000. Principal Financial Group Inc. increased its stake in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after purchasing an additional 36,843 shares during the period. Versant Capital Management Inc lifted its position in shares of Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock worth $74,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock valued at $258,000 after purchasing an additional 214 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.
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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