Coinbase Global, Inc. (NASDAQ:COIN) traded down 1.6% during trading on Friday . The stock traded as low as $242.05 and last traded at $243.65. 1,686,611 shares were traded during mid-day trading, a decline of 86% from the average session volume of 12,132,121 shares. The stock had previously closed at $247.64.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. HC Wainwright boosted their price target 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. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Oppenheimer boosted their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $214.67.
Read Our Latest Report on Coinbase Global
Coinbase Global Stock Performance
The stock has a market capitalization of $60.04 billion, a PE ratio of 48.80 and a beta of 3.44. The firm’s fifty day moving average is $229.14 and its 200-day moving average is $195.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.
Insider Activity at Coinbase Global
In related news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at approximately $1,256,580. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 377,803 shares of company stock worth $86,110,620. Company insiders own 23.43% of the company’s stock.
Institutional Trading of Coinbase Global
A number of large investors have recently made changes to their positions in COIN. Janney Montgomery Scott LLC increased its stake in shares of Coinbase Global by 84.6% during the third quarter. Janney Montgomery Scott LLC now owns 17,060 shares of the cryptocurrency exchange’s stock worth $1,281,000 after buying an additional 7,818 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Coinbase Global by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 618,842 shares of the cryptocurrency exchange’s stock worth $46,463,000 after buying an additional 20,296 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Coinbase Global by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,329 shares of the cryptocurrency exchange’s stock worth $1,605,000 after buying an additional 414 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Coinbase Global by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock worth $378,000 after buying an additional 145 shares during the period. Finally, Aviva PLC purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $1,174,000. 68.84% of the stock is currently 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.
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