Coinbase Global Target of Unusually Large Options Trading (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the recipient of some unusual options trading activity on Friday. Traders acquired 219,879 call options on the company. This is an increase of 31% compared to the average daily volume of 167,314 call options.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now directly owns 71,195 shares in the company, valued at $16,784,221.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $91,487.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,037 shares of company stock valued at $15,512,370. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of COIN. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in Coinbase Global in the 1st quarter worth approximately $108,434,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COIN shares. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. HC Wainwright decreased their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays upped their price objective on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $246.44.

Coinbase Global Trading Up 7.4 %

COIN opened at $176.38 on Friday. Coinbase Global has a 12 month low of $70.42 and a 12 month high of $283.48. The stock has a fifty day moving average price of $178.63 and a 200-day moving average price of $213.60. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 31.67 and a beta of 3.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 net margin of 31.46% and a return on equity of 13.89%. 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 company posted ($0.42) earnings per share. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global will post 3.92 earnings per share for the current fiscal year.

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.