Coinbase Global (NASDAQ:COIN) Shares Up 0.7%

Coinbase Global, Inc. (NASDAQ:COIN)’s share price shot up 0.7% during mid-day trading on Wednesday . The stock traded as high as $164.10 and last traded at $163.53. 774,995 shares were traded during mid-day trading, a decline of 93% from the average session volume of 10,484,608 shares. The stock had previously closed at $162.45.

Analysts Set New Price Targets

A number of equities analysts have weighed in on COIN shares. HC Wainwright decreased their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $206.00 to $169.00 in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, Bank of America lowered their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $246.06.

Coinbase Global Stock Up 0.7 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $40.15 billion, a P/E ratio of 32.62 and a beta of 3.36. The company has a fifty day moving average price of $201.87 and a 200-day moving average price of $222.80.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned ($0.42) earnings per share. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $91,487.18. The sale 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 that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,562 shares of company stock valued at $23,115,399. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Geneos Wealth Management Inc. lifted its stake in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the period. Concord Wealth Partners boosted its stake in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. purchased a new position in Coinbase Global during the first quarter valued at approximately $32,000. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in Coinbase Global during the second quarter worth $29,000. 68.84% of the stock is owned by institutional investors.

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.