Coinbase Global (NASDAQ:COIN) Trading Up 3.5% - Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN)'s share price was up 3.5% during mid-day trading on Monday . The company traded as high as $218.00 and last traded at $212.16. Approximately 4,478,395 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 10,357,102 shares. The stock had previously closed at $205.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COIN shares. Barclays boosted their price target on shares of Coinbase Global from $169.00 to $175.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Bank of America cut their target price on shares of Coinbase Global from $263.00 to $246.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday. They set a "buy" rating and a $245.00 target price on the stock. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $242.94.

Coinbase Global Trading Up 5.4 %

The firm has a market cap of $53.07 billion, a P/E ratio of 43.13 and a beta of 3.35. The business's 50 day moving average is $181.38 and its 200-day moving average is $209.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business's revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.42) EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the completion of the sale, the chief operating officer now owns 194,971 shares of the company's stock, valued at $45,428,243. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares in the company, valued at approximately $45,428,243. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,187 shares of company stock valued at $13,158,294. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC bought a new position in Coinbase Global during the first quarter valued at approximately $231,000. APEIRON CAPITAL Ltd acquired a new position in Coinbase Global during the first quarter valued at approximately $108,434,000. Sunbelt Securities Inc. grew its holdings in Coinbase Global by 203.0% during the first quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange's stock valued at $80,000 after purchasing an additional 201 shares during the last quarter. Founders Financial Securities LLC acquired a new position in Coinbase Global during the first quarter valued at approximately $223,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Coinbase Global by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,095 shares of the cryptocurrency exchange's stock valued at $1,881,000 after purchasing an additional 591 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.