Coinbase Global (NASDAQ:COIN) Shares Up 1.1%

Coinbase Global, Inc. (NASDAQ:COIN) shares shot up 1.1% on Tuesday . The company traded as high as $224.20 and last traded at $222.88. 1,658,709 shares were traded during trading, a decline of 86% from the average session volume of 11,589,159 shares. The stock had previously closed at $220.56.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COIN. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a report on Tuesday, June 18th. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and upped their target price for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Oppenheimer upped their price objective on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $212.83.

Coinbase Global Trading Down 2.2 %

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $228.01 and its two-hundred day moving average is $205.49. The firm has a market cap of $52.71 billion, a price-to-earnings ratio of 45.07 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.42% and a net margin of 33.98%. Equities analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Insiders sold a total of 314,136 shares of company stock valued at $68,855,464 over the last ninety days. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the company. Barrett & Company Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at $26,000. Creekmur Asset Management LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $29,000. Concord Wealth Partners lifted its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

About Coinbase Global

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.