Coinbase Global (NASDAQ:COIN) Trading Up 4.9% - Here's What Happened

Coinbase Global, Inc. (NASDAQ:COIN)'s share price traded up 4.9% during trading on Monday . The company traded as high as $300.35 and last traded at $295.48. 11,250,894 shares were traded during trading, an increase of 67% from the average session volume of 6,726,179 shares. The stock had previously closed at $281.63.

Analyst Ratings Changes

COIN has been the topic of a number of recent analyst reports. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price on the stock. Monness Crespi & Hardt boosted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC lifted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. JMP Securities restated a "market outperform" rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $282.83.

Coinbase Global Price Performance

The firm has a fifty day moving average price of $290.63 and a two-hundred day moving average price of $231.81. 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 stock has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59.

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 for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned ($0.01) EPS. Coinbase Global's revenue was up 78.8% on a year-over-year basis. On average, analysts expect that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company's stock, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 4,635 shares of the firm's 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 transaction, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 347,033 shares of company stock worth $102,613,277. Insiders own 23.43% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after buying an additional 43 shares during the last quarter. Capital Advisors Wealth Management LLC increased its holdings in Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange's stock valued at $365,000 after acquiring an additional 45 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after purchasing an additional 51 shares during the last quarter. Pallas Capital Advisors LLC grew its position in shares of Coinbase Global by 2.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange's stock valued at $652,000 after purchasing an additional 51 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of Coinbase Global by 3.9% in the third quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange's stock worth $314,000 after purchasing an additional 66 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

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.