Coinbase Global (NASDAQ:COIN) Trading Up 3% – Here’s Why

Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 3% on Tuesday . The company traded as high as $278.08 and last traded at $276.22. 1,945,613 shares traded hands during trading, a decline of 83% from the average session volume of 11,190,784 shares. The stock had previously closed at $268.15.

Analyst Ratings Changes

Several analysts have commented on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Oppenheimer lifted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $286.22.

Coinbase Global Trading Up 4.3 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $70.00 billion, a PE ratio of 47.72 and a beta of 3.57. The stock has a 50 day moving average price of $273.67 and a 200 day moving average price of $227.52.

Coinbase Global (NASDAQ:COIN) last announced its 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. The business’s quarterly revenue was up 78.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,720 shares of company stock valued at $78,086,248 in the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $25,000. Crewe Advisors LLC lifted its stake in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. raised its position in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.