Coinbase Global (NASDAQ:COIN) Trading Up 0.3% – Here’s What Happened

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was up 0.3% on Friday . The stock traded as high as $316.30 and last traded at $311.89. Approximately 3,652,274 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 11,168,360 shares. The stock had previously closed at $310.98.

Analyst Ratings Changes

Several analysts have recently commented on the stock. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Compass Point lowered their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Piper Sandler reissued a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Trading Down 3.4 %

The stock has a market cap of $75.21 billion, a price-to-earnings ratio of 53.22 and a beta of 3.34. The business’s fifty day simple moving average is $222.79 and its 200 day simple moving average is $217.21. 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 announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. On average, research analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,719 shares of company stock worth $65,309,711. 23.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the third quarter valued at approximately $25,000. Crewe Advisors LLC boosted its stake in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the 2nd quarter worth $29,000. Versant Capital Management Inc boosted its position in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in Coinbase Global in the 3rd quarter worth about $32,000. 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.