Coinbase Global (NASDAQ:COIN) Trading Up 2.2%

Coinbase Global, Inc. (NASDAQ:COIN)’s stock price traded up 2.2% during mid-day trading on Tuesday . The stock traded as high as $167.37 and last traded at $165.11. Approximately 1,559,751 shares were traded during mid-day trading, a decline of 85% from the average session volume of 10,518,376 shares. The stock had previously closed at $161.50.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Bank of America reduced 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 note on Friday, August 2nd. HC Wainwright decreased their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $206.00 to $169.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Stock Up 3.4 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 33.48 and a beta of 3.36. The firm has a 50-day moving average price of $200.73 and a two-hundred day moving average price of $222.38.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.40 billion. During the same period last year, the company earned ($0.42) EPS. The company’s revenue was up 104.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the sale, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 8,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $232.24, for a total value of $1,857,920.00. Following the completion of the sale, the chief operating officer now owns 197,971 shares in the company, valued at $45,976,785.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,562 shares of company stock valued at $23,115,399. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the company. Lazari Capital Management Inc. lifted its holdings in Coinbase Global by 8.5% during the 2nd quarter. Lazari Capital Management Inc. now owns 2,692 shares of the cryptocurrency exchange’s stock valued at $598,000 after purchasing an additional 211 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global during the 2nd quarter worth about $2,908,000. SRN Advisors LLC boosted its holdings in shares of Coinbase Global by 10.9% during the 2nd quarter. SRN Advisors LLC now owns 12,774 shares of the cryptocurrency exchange’s stock worth $2,839,000 after buying an additional 1,259 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new position in Coinbase Global in the 2nd quarter valued at about $462,000. Finally, Cetera Investment Advisers raised its holdings in Coinbase Global by 9.1% in the 2nd quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange’s stock valued at $6,291,000 after acquiring an additional 2,371 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.