Coinbase Global (NASDAQ:COIN) Trading 1.1% Higher

Coinbase Global, Inc. (NASDAQ:COIN) was up 1.1% on Tuesday . The stock traded as high as $224.20 and last traded at $222.88. Approximately 1,658,709 shares traded hands during trading, a decline of 86% from the average daily volume of 11,589,159 shares. The stock had previously closed at $220.56.

Analyst Ratings Changes

Several analysts have commented on the company. Singular Research restated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Oppenheimer increased their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Canaccord Genuity Group lifted their target price on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Barclays dropped their price target on Coinbase Global from $204.00 to $196.00 and set an “underweight” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $212.83.

Coinbase Global Stock Performance

The company has a 50 day moving average of $228.01 and a 200 day moving average of $205.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market cap of $52.71 billion, a price-to-earnings ratio of 45.07 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, equities research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the completion of the transaction, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at approximately $53,407,048. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,136 shares of company stock valued at $68,855,464. Insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. lifted its stake in Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the last quarter. Paragon Capital Management Ltd lifted its holdings in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the period. Raymond James & Associates grew its position in Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after buying an additional 9,564 shares in the last quarter. KBC Group NV raised its position in shares of Coinbase Global by 26.2% during the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock worth $3,793,000 after buying an additional 4,524 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $302,000. 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.