Investors Buy Large Volume of Call Options on Coinbase Global (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) saw unusually large options trading on Friday. Stock traders acquired 321,330 call options on the stock. This represents an increase of 41% compared to the average volume of 228,193 call options.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Bank of America increased their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.00.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,091 shares of company stock worth $50,033,426. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at $25,000. Crewe Advisors LLC increased its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Coinbase Global in the 2nd quarter worth about $29,000. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter worth about $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 3.2 %

NASDAQ COIN opened at $304.64 on Friday. The firm has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. The business has a fifty day simple moving average of $214.20 and a 200 day simple moving average of $215.16. Coinbase Global has a 12 month low of $107.98 and a 12 month high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, analysts predict that Coinbase Global will post 4.27 EPS for the current fiscal year.

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.