Coinbase Global (NASDAQ:COIN) Stock Price Up 2.3% – Time to Buy?

Coinbase Global, Inc. (NASDAQ:COIN) traded up 2.3% during mid-day trading on Friday . The company traded as high as $333.47 and last traded at $327.98. 3,763,274 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 11,214,396 shares. The stock had previously closed at $320.57.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COIN shares. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC increased their price target on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Oppenheimer lifted their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $265.33.

Coinbase Global Stock Performance

The firm has a fifty day moving average price of $242.71 and a two-hundred day moving average price of $222.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $86.03 billion, a PE ratio of 58.64 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.01) earnings per share. Research analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,220 shares of company stock worth $80,030,608 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the third quarter valued at approximately $25,000. Crewe Advisors LLC lifted its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $32,000. Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global in the 2nd quarter valued at $33,000. Finally, Continuum Advisory LLC raised its position in shares of Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 150 shares in 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.