Coinbase Global, Inc. (NASDAQ:COIN) Short Interest Update

Coinbase Global, Inc. (NASDAQ:COIN) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 9,280,000 shares, a decline of 6.7% from the May 31st total of 9,950,000 shares. Currently, 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,040,000 shares, the short-interest ratio is currently 1.0 days.

Coinbase Global Stock Down 1.1 %

Shares of NASDAQ:COIN opened at $224.94 on Thursday. Coinbase Global has a 52-week low of $69.63 and a 52-week high of $283.48. The stock has a market cap of $55.24 billion, a P/E ratio of 44.90 and a beta of 3.40. The business’s 50 day moving average is $227.68 and its 200 day moving average is $203.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

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

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $232.24, for a total value of $1,857,920.00. Following the sale, the chief operating officer now directly owns 197,971 shares in the company, valued at $45,976,785.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 330,516 shares of company stock worth $73,051,856. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares during the period. Morgan Stanley lifted its holdings in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the period. Norges Bank purchased a new stake in Coinbase Global during the fourth quarter worth $202,936,000. a16z Perennial Management L.P. purchased a new stake in Coinbase Global during the fourth quarter worth $147,646,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after buying an additional 37,847 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on COIN shares. Singular Research reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Sanford C. Bernstein boosted their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $315.00 target price on shares of Coinbase Global in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $215.50.

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.