Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence J. Brock sold 16,456 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total value of $3,675,283.04. Following the sale, the insider now directly owns 16,140 shares of the company’s stock, valued at $3,604,707.60. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Coinbase Global Stock Up 8.6 %
Coinbase Global stock opened at $237.65 on Friday. The firm has a market capitalization of $58.36 billion, a price-to-earnings ratio of 47.44 and a beta of 3.46. The company’s 50 day simple moving average is $232.51 and its 200 day simple moving average is $180.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. HC Wainwright increased their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Mizuho raised their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Needham & Company LLC reduced their price objective on Coinbase Global from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Finally, Wedbush boosted their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $214.67.
Get Our Latest Research Report on Coinbase Global
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fountainhead AM LLC lifted its holdings in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after purchasing an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after buying an additional 81 shares in the last quarter. Nilsine Partners LLC boosted its holdings in shares of Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors increased its position in shares of Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after acquiring an additional 86 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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