Coinbase Global (NASDAQ:COIN) Shares Up 4%

Coinbase Global, Inc. (NASDAQ:COIN)’s share price shot up 4% during trading on Monday . The company traded as high as $233.86 and last traded at $231.19. 2,846,101 shares were traded during trading, a decline of 76% from the average session volume of 11,813,008 shares. The stock had previously closed at $222.23.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COIN. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. JPMorgan Chase & Co. increased their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. HC Wainwright reissued a “buy” rating and set a $315.00 target price on shares of Coinbase Global in a report on Tuesday, June 18th. Sanford C. Bernstein increased their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average price target of $215.50.

Coinbase Global Stock Performance

The firm has a 50-day moving average price of $227.70 and a 200 day moving average price of $202.20. The firm has a market capitalization of $57.65 billion, a PE ratio of 46.15 and a beta of 3.40. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion during 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%. Research analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at $15,623,742.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the transaction, the chief financial officer now owns 192,622 shares in the company, valued at approximately $47,681,649.88. The disclosure for this sale can be found here. Insiders sold 360,021 shares of company stock valued at $80,655,822 in the last ninety days. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners boosted its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. purchased a new stake in Coinbase Global in the 1st quarter valued at approximately $32,000. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds 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.