Shares of Coinbase Global, Inc. (NASDAQ:COIN) rose 3.3% during trading on Friday . The company traded as high as $270.79 and last traded at $265.12. Approximately 11,201,564 shares changed hands during trading, a decline of 28% from the average daily volume of 15,466,861 shares. The stock had previously closed at $256.70.
Analyst Ratings Changes
COIN has been the topic of a number of recent research reports. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research note on Thursday. Oppenheimer lifted their price target on Coinbase Global from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Citigroup lifted their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, Needham & Company LLC lifted their price target on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.30.
View Our Latest Stock Analysis on Coinbase Global
Coinbase Global Stock Performance
The firm has a market capitalization of $64.23 billion, a P/E ratio of 981.93 and a beta of 3.36. The stock has a fifty day simple moving average of $191.07 and a two-hundred day simple moving average of $139.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the previous year, the company posted ($2.46) earnings per share. On average, research analysts predict that Coinbase Global, Inc. will post 1.68 EPS for the current year.
Insider Activity
In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $134.24, for a total transaction of $13,133,504.64. Following the completion of the sale, the director now owns 299,580 shares in the company, valued at $40,215,619.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Marc L. Andreessen sold 33,992 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $764,148.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $134.24, for a total value of $13,133,504.64. Following the sale, the director now owns 299,580 shares of the company’s stock, valued at approximately $40,215,619.20. The disclosure for this sale can be found here. Insiders sold a total of 759,107 shares of company stock worth $117,220,321 over the last quarter. 33.16% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Coinbase Global
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Coinbase Global by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares during the last quarter. Morgan Stanley boosted its position in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Geode Capital Management LLC boosted its position in Coinbase Global by 3.2% in the first quarter. Geode Capital Management LLC now owns 2,341,989 shares of the cryptocurrency exchange’s stock worth $158,083,000 after purchasing an additional 73,036 shares during the last quarter. Norges Bank purchased a new position in Coinbase Global in the fourth quarter worth $50,254,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Coinbase Global by 741.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,342,039 shares of the cryptocurrency exchange’s stock worth $233,408,000 after purchasing an additional 1,182,556 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.
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.
Further Reading
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