Coinbase Global (NASDAQ:COIN) Trading 0.9% Higher

Coinbase Global, Inc. (NASDAQ:COIN)’s share price traded up 0.9% during trading on Monday . The company traded as high as $255.42 and last traded at $245.18. 3,982,036 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 11,324,877 shares. The stock had previously closed at $242.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday, May 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $237.50.

Coinbase Global Stock Performance

The stock’s 50 day moving average price is $235.30 and its 200 day moving average price is $212.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a market cap of $58.17 billion, a price-to-earnings ratio of 48.94 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, analysts expect that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.70, for a total value of $344,550.00. Following the completion of the transaction, the chief operating officer now owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,676 shares of company stock valued at $58,878,978. 23.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Salem Investment Counselors Inc. boosted its stake in shares of Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after buying an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd boosted its stake in shares of Coinbase Global by 58.6% during the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Coinbase Global by 93.5% during the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after buying an additional 7,148 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after buying an additional 9,564 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.