Coinbase Global (NASDAQ:COIN) Stock Price Up 3.2% – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price rose 3.2% during trading on Friday . The stock traded as high as $186.55 and last traded at $183.24. Approximately 3,461,236 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 9,380,327 shares. The stock had previously closed at $177.49.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler upped their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.67.

Coinbase Global Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66. The business has a 50 day moving average of $255.08 and a two-hundred day moving average of $240.79.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the third quarter worth about $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.