Coinbase Global (NASDAQ:COIN) Stock Price Up 0.4% - What's Next?

Coinbase Global, Inc. (NASDAQ:COIN)'s stock price rose 0.4% on Tuesday . The company traded as high as $284.84 and last traded at $279.00. Approximately 1,765,081 shares changed hands during trading, a decline of 79% from the average daily volume of 8,279,057 shares. The stock had previously closed at $277.99.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research reports. Monness Crespi & Hardt increased their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Barclays increased their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a report on Monday, December 9th. Piper Sandler increased their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, Mizuho increased their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $282.83.

Coinbase Global Stock Performance

The stock has a market cap of $70.55 billion, a P/E ratio of 48.09 and a beta of 3.59. The firm's 50-day moving average is $289.59 and its two-hundred day moving average is $234.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned ($0.01) EPS. The company's revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, research analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 20,000 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,489 shares of company stock valued at $109,624,297 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Focused Wealth Management Inc acquired a new stake in shares of Coinbase Global in the fourth quarter worth $227,000. Newbridge Financial Services Group Inc. boosted its stake in Coinbase Global by 44.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 631 shares of the cryptocurrency exchange's stock worth $157,000 after buying an additional 195 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Coinbase Global by 35.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange's stock worth $4,606,000 after buying an additional 4,829 shares in the last quarter. Stephens Inc. AR acquired a new stake in Coinbase Global during the fourth quarter worth $261,000. Finally, Rede Wealth LLC boosted its stake in Coinbase Global by 2.0% during the fourth quarter. Rede Wealth LLC now owns 7,977 shares of the cryptocurrency exchange's stock worth $1,981,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

About Coinbase Global

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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