Coinbase Global (NASDAQ:COIN) Shares Up 2.9% - What's Next?

Coinbase Global, Inc. (NASDAQ:COIN)'s stock price rose 2.9% on Tuesday . The company traded as high as $263.00 and last traded at $258.40. Approximately 2,089,821 shares were traded during trading, a decline of 70% from the average daily volume of 6,881,000 shares. The stock had previously closed at $251.20.

Analyst Ratings Changes

Several research firms have recently commented on COIN. Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a report on Monday. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Piper Sandler raised their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $284.17.

Coinbase Global Trading Up 1.7 %

The company's 50-day moving average is $289.78 and its 200 day moving average is $230.14. 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 cap of $63.93 billion, a PE ratio of 43.58 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during 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 business's quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,733 shares of company stock valued at $95,173,894. Corporate insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC raised its stake in shares of Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock valued at $48,000 after buying an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after acquiring an additional 204 shares during the period. Finally, Quest Partners LLC increased its stake in Coinbase Global by 233.7% in the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange's stock valued at $66,000 after acquiring an additional 208 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.