Traders Buy Large Volume of Call Options on Coinbase Global (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) saw some unusual options trading on Friday. Stock traders acquired 346,763 call options on the stock. This is an increase of approximately 36% compared to the typical daily volume of 255,168 call options.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares of the company's stock, valued at $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 347,033 shares of company stock valued at $102,613,277 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global in the third quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after purchasing an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. raised its position 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 valued at $45,000 after purchasing an additional 204 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Coinbase Global by 548.5% during 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. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 4.9 %

Coinbase Global stock traded up $13.85 during trading hours on Friday, hitting $295.48. The stock had a trading volume of 11,250,894 shares, compared to its average volume of 7,827,058. The stock's 50-day moving average price is $290.71 and its 200-day moving average price is $230.81. Coinbase Global has a 12-month low of $114.51 and a 12-month high of $349.75. 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 released 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 during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business's revenue was up 78.8% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Equities research analysts anticipate that Coinbase Global will post 4.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COIN shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. HC Wainwright reiterated a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Piper Sandler increased their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Finally, Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research 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 stock. According to data from MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average price target of $282.83.

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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