Coinbase Global, Inc. (NASDAQ:COIN) rose 0.8% on Thursday . The company traded as high as $323.50 and last traded at $316.20. Approximately 3,624,503 shares were traded during trading, a decline of 68% from the average daily volume of 11,261,079 shares. The stock had previously closed at $313.81.
Analyst Ratings Changes
A number of brokerages have recently commented on COIN. JMP Securities restated a "market outperform" rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Barclays raised their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research note on Monday. Canaccord Genuity Group reiterated a "buy" rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a research report on Monday. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average target price of $276.22.
View Our Latest Analysis on COIN
Coinbase Global Price Performance
The stock's 50-day moving average price is $254.08 and its 200 day moving average price is $224.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 53.41 and a beta of 3.56.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm's revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. Equities research analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company's stock, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,220 shares of company stock worth $80,030,608. 23.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Coinbase Global
Several large investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Crewe Advisors LLC raised its position in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock valued at $27,000 after purchasing an additional 104 shares during the period. ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter worth $32,000. Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global during the second quarter worth $33,000. Finally, Continuum Advisory LLC grew its stake in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.
About Coinbase Global
(
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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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