Coinbase Global (NASDAQ:COIN) Stock Price Up 3.2% – What’s Next?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) rose 3.2% on Friday . The stock traded as high as $307.29 and last traded at $305.50. Approximately 3,830,557 shares were traded during trading, a decline of 52% from the average daily volume of 8,047,986 shares. The stock had previously closed at $296.01.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Needham & Company LLC increased their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $282.83.

Coinbase Global Trading Up 4.0 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $290.70 and its two-hundred day simple moving average is $233.19. The company has a market cap of $77.10 billion, a price-to-earnings ratio of 52.51 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. On average, equities analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares in the company, valued at approximately $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 367,489 shares of company stock worth $109,624,297. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its position in shares of Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after buying an additional 51 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its position in shares of Coinbase Global by 2.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock worth $504,000 after buying an additional 56 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.