Coinbase Global (NASDAQ:COIN) Stock Price Down 0.2%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) fell 0.2% on Wednesday . The company traded as low as $170.16 and last traded at $171.30. 1,693,255 shares were traded during trading, a decline of 84% from the average session volume of 10,385,997 shares. The stock had previously closed at $171.68.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on COIN shares. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Bank of America decreased their target price on 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Trading Up 6.3 %

The firm has a 50-day moving average of $193.09 and a two-hundred day moving average of $219.75. The firm has a market capitalization of $47.52 billion, a P/E ratio of 38.11 and a beta of 3.36. 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 posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS 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 the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue was up 104.8% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of Coinbase Global stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $380,530.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,062 shares of company stock worth $20,584,974. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. increased its stake in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the period. Intech Investment Management LLC increased its position in Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd raised its holdings in Coinbase Global by 58.6% during the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in shares of Coinbase Global by 93.5% in the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after purchasing an additional 7,148 shares during the last quarter. 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.