Coinbase Global (NASDAQ:COIN) Shares Up 3.2% – Here’s Why

Coinbase Global, Inc. (NASDAQ:COIN) shares were up 3.2% during mid-day trading on Friday . The company traded as high as $186.55 and last traded at $183.24. Approximately 3,461,236 shares changed hands during trading, a decline of 63% from the average daily volume of 9,380,327 shares. The stock had previously closed at $177.49.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.89.

Coinbase Global Trading Up 3.7 %

The firm has a market capitalization of $46.72 billion, a PE ratio of 19.33 and a beta of 3.66. The business has a fifty day moving average price of $256.83 and a two-hundred day moving average price of $240.64. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last three months. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the stock. Copia Wealth Management acquired a new position in shares of Coinbase Global during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the fourth quarter worth approximately $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at $25,000. 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.