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

Coinbase Global, Inc. (NASDAQ:COIN) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 9,170,000 shares, a decrease of 5.8% from the July 15th total of 9,730,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 8,440,000 shares, the short-interest ratio is currently 1.1 days.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the completion of the sale, the chief operating officer now owns 194,971 shares in the company, valued at $45,428,243. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at $45,428,243. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 17,444 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at $17,020,588.65. The disclosure for this sale can be found here. Insiders sold 126,505 shares of company stock worth $29,218,061 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. International Assets Investment Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $34,422,000. Allspring Global Investments Holdings LLC grew its holdings in Coinbase Global by 87.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,504 shares of the cryptocurrency exchange’s stock worth $1,131,000 after acquiring an additional 3,030 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Coinbase Global during the 4th quarter worth $59,000. Strs Ohio acquired a new stake in Coinbase Global during the 4th quarter worth $765,000. Finally, Xponance Inc. grew its holdings in Coinbase Global by 3.1% during the 4th quarter. Xponance Inc. now owns 6,454 shares of the cryptocurrency exchange’s stock worth $1,122,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on COIN shares. HC Wainwright lowered their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Singular Research reissued a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $248.38.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $204.46 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $50.21 billion, a P/E ratio of 40.81 and a beta of 3.40. The firm has a 50 day simple moving average of $224.24 and a 200 day simple moving average of $220.63. Coinbase Global has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued 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). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.42) EPS. Sell-side analysts predict that Coinbase Global will post 4.95 earnings per share 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.