Coinbase Global (NASDAQ:COIN) Trading Up 3.5% – What’s Next?

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 changed 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COIN shares. HC Wainwright reduced their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America decreased their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Monness Crespi & Hardt began coverage on Coinbase Global in a research note on Monday. They set a “buy” rating and a $245.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. Finally, Compass Point decreased their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $242.94.

Coinbase Global Trading Up 5.4 %

The stock has a market cap of $53.07 billion, a PE ratio of 42.35 and a beta of 3.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average of $181.15 and a two-hundred day moving average of $209.71.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.42) EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the sale, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,187 shares of company stock valued at $13,158,294 over the last quarter. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the period. Concord Wealth Partners boosted its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Finally, Versant Capital Management Inc lifted its holdings in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during 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.