Coinbase Global (NASDAQ:COIN) Shares Up 0.7% – Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN) was up 0.7% during trading on Friday . The company traded as high as $303.60 and last traded at $303.30. Approximately 1,704,195 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 7,996,029 shares. The stock had previously closed at $301.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COIN shares. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $250.00 to $290.00 in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Trading Down 3.0 %

The company has a market capitalization of $73.19 billion, a PE ratio of 49.71 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average of $288.26 and a two-hundred day moving average of $235.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,205 shares of company stock valued at $112,487,737 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after purchasing an additional 2,212 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Coinbase Global by 103.8% during the second quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock valued at $6,829,000 after purchasing an additional 15,652 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Coinbase Global by 639.4% during the second quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock valued at $2,046,000 after purchasing an additional 7,960 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Coinbase Global by 7.3% during the second quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock valued at $1,081,000 after purchasing an additional 332 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Coinbase Global by 84.3% during the second quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock valued at $123,000 after purchasing an additional 253 shares in the last quarter. 68.84% of the stock is currently owned by 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.