Coinbase Global (NASDAQ:COIN) Trading Up 1.9% – Time to Buy?

Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 1.9% during trading on Thursday . The stock traded as high as $301.88 and last traded at $301.60. 3,785,647 shares changed hands during trading, a decline of 51% from the average session volume of 7,789,395 shares. The stock had previously closed at $295.85.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Oppenheimer cut their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Finally, B. Riley started coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $282.83.

Coinbase Global Stock Performance

The company has a fifty day moving average of $290.36 and a two-hundred day moving average of $232.75. The firm has a market capitalization of $74.44 billion, a price-to-earnings ratio of 50.99 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now owns 74,956 shares in the company, valued at $15,739,260.88. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 377,489 shares of company stock worth $111,724,097. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently bought and sold shares of the business. Strategic Planning Group LLC bought a new position in Coinbase Global in the 4th quarter valued at approximately $2,937,000. Hantz Financial Services Inc. lifted its stake in shares of Coinbase Global by 175.8% in the 4th quarter. Hantz Financial Services Inc. now owns 684 shares of the cryptocurrency exchange’s stock valued at $170,000 after acquiring an additional 436 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Coinbase Global by 1.0% during the 4th quarter. Forsta AP Fonden now owns 39,900 shares of the cryptocurrency exchange’s stock valued at $9,907,000 after acquiring an additional 400 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Coinbase Global by 33.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock worth $25,729,000 after acquiring an additional 25,972 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Coinbase Global during the 4th quarter worth $99,000. 68.84% of the stock is 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.