Coinbase Global (NASDAQ:COIN) Trading 4% Higher

Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 4% during trading on Monday . The stock traded as high as $233.86 and last traded at $231.19. 2,846,101 shares were traded during mid-day trading, a decline of 76% from the average session volume of 11,813,008 shares. The stock had previously closed at $222.23.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COIN shares. Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Piper Sandler raised their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Price Performance

The stock has a market capitalization of $55.87 billion, a PE ratio of 45.41 and a beta of 3.40. 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’s fifty day simple moving average is $227.67 and its two-hundred day simple moving average is $203.32.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the sale, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at $53,407,048. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $256.30, for a total transaction of $5,914,122.50. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $134,813.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $248.00, for a total transaction of $372,000.00. Following the completion of the sale, the chief operating officer now owns 215,351 shares in the company, valued at $53,407,048. The disclosure for this sale can be found here. Insiders sold 353,141 shares of company stock valued at $78,864,413 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Coinbase Global by 55.0% in the third quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock worth $3,579,000 after buying an additional 16,914 shares during the last quarter. Bank of Nova Scotia bought a new stake in shares of Coinbase Global during the 3rd quarter worth $450,000. Legal & General Group Plc grew its holdings in shares of Coinbase Global by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock worth $38,953,000 after acquiring an additional 11,730 shares during the last quarter. Scotia Capital Inc. acquired a new stake in shares of Coinbase Global during the third quarter worth $218,000. Finally, Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

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.