Coinbase Global (NASDAQ:COIN) Trading Up 0%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) shot up 0% during trading on Wednesday . The stock traded as high as $214.38 and last traded at $214.36. 2,156,930 shares were traded during mid-day trading, a decline of 84% from the average session volume of 13,106,814 shares. The stock had previously closed at $214.34.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HC Wainwright increased their price objective on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Barclays raised their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a report on Monday. The Goldman Sachs Group reduced their target price on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $193.85.

Coinbase Global Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $51.17 billion, a price-to-earnings ratio of 42.79 and a beta of 3.46. The firm’s 50-day moving average price is $237.33 and its 200 day moving average price is $169.13.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.46) EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 361,542 shares of company stock worth $81,392,237. 33.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the stock. Fountainhead AM LLC grew its stake in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after acquiring an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after purchasing an additional 81 shares in the last quarter. Nilsine Partners LLC increased its stake in Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after buying an additional 81 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares in the last quarter. Finally, Concord Wealth Partners boosted its stake in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 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.