Coinbase Global (NASDAQ:COIN) Trading 0.3% Higher – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN) shares shot up 0.3% on Friday . The company traded as high as $316.30 and last traded at $311.89. 3,652,274 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 11,168,360 shares. The stock had previously closed at $310.98.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Needham & Company LLC raised their price target on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Oppenheimer lifted their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday. Finally, Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $255.22.

Coinbase Global Trading Down 3.4 %

The company’s 50 day moving average price is $222.79 and its two-hundred day moving average price is $217.21. The firm has a market cap of $75.21 billion, a PE ratio of 53.22 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Activity

In other Coinbase Global news, COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the completion of the sale, the chief operating officer now directly owns 189,101 shares in the company, valued at approximately $33,298,795.09. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now directly owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,719 shares of company stock worth $65,309,711. Insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Coinbase Global in the third quarter worth about $94,000. Virtu Financial LLC purchased a new position in Coinbase Global in the 3rd quarter worth approximately $3,866,000. TD Private Client Wealth LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth approximately $77,000. Sunbelt Securities Inc. grew its position in shares of Coinbase Global by 25.9% in the third quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock valued at $124,000 after purchasing an additional 143 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Coinbase Global by 17.0% during the third quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock worth $517,000 after buying an additional 402 shares in the last quarter. 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.