Coinbase Global (NASDAQ:COIN) Stock Price Up 3.2% – Time to Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price rose 3.2% during trading on Friday . The stock traded as high as $186.55 and last traded at $183.24. Approximately 3,461,236 shares changed hands during trading, a decline of 63% from the average daily volume of 9,380,327 shares. The stock had previously closed at $177.49.

Analyst Ratings Changes

COIN has been the topic of several analyst reports. JMP Securities raised their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Rosenblatt Securities started coverage on Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective on the stock. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. The Goldman Sachs Group dropped their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $316.67.

Coinbase Global Stock Performance

The stock has a market cap of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $255.08 and a 200 day moving average of $240.79.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. grew its stake in shares of Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after buying an additional 40 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC grew its stake in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 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.