Shares of Coinbase Global, Inc. (NASDAQ:COIN) rose 2.2% during trading on Tuesday . The stock traded as high as $205.69 and last traded at $203.86. Approximately 2,702,184 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 12,805,380 shares. The stock had previously closed at $199.51.
Analyst Upgrades and Downgrades
COIN has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Mizuho upped their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Needham & Company LLC cut their price objective on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Oppenheimer upped their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $200.63.
Coinbase Global Trading Up 1.8 %
The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $236.99 and a 200-day simple moving average of $172.72. The firm has a market cap of $49.86 billion, a P/E ratio of 40.69 and a beta of 3.46.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.46) EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Frederick Ernest Ehrsam III sold 8,735 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $186.00, for a total value of $1,624,710.00. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $867,132. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Frederick Ernest Ehrsam III sold 8,735 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $186.00, for a total transaction of $1,624,710.00. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $867,132. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,847 shares of company stock worth $81,473,390. 33.16% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Coinbase Global
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ossiam boosted its position in shares of Coinbase Global by 1,597.6% during the first quarter. Ossiam now owns 39,604 shares of the cryptocurrency exchange’s stock worth $10,500,000 after buying an additional 37,271 shares during the period. Lake Street Advisors Group LLC purchased a new stake in Coinbase Global during the 1st quarter worth about $1,260,000. UniSuper Management Pty Ltd lifted its holdings in Coinbase Global by 108.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,500 shares of the cryptocurrency exchange’s stock worth $663,000 after buying an additional 1,300 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Coinbase Global during the first quarter worth about $1,019,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Coinbase Global by 53.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,499 shares of the cryptocurrency exchange’s stock worth $2,518,000 after purchasing an additional 3,306 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
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.