Coinbase Global (NASDAQ:COIN) Trading Up 0.7% – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 0.7% during trading on Thursday . The company traded as high as $276.72 and last traded at $276.72. 1,940,602 shares were traded during trading, a decline of 72% from the average session volume of 6,988,896 shares. The stock had previously closed at $274.93.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Piper Sandler upped their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $282.83.

Coinbase Global Trading Up 4.9 %

The company has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The stock’s 50 day moving average is $291.21 and its 200-day moving average is $231.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,936,968.98. This trade represents a 68.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock valued at $102,613,277 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Red Door Wealth Management LLC purchased a new stake in Coinbase Global in the fourth quarter worth about $304,000. Avior Wealth Management LLC grew its holdings in shares of Coinbase Global by 7.8% during the fourth quarter. Avior Wealth Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $240,000 after buying an additional 70 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $509,000. Simon Quick Advisors LLC grew its holdings in shares of Coinbase Global by 8.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,122 shares of the cryptocurrency exchange’s stock valued at $527,000 after buying an additional 166 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $265,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.