Coinbase Global Sees Unusually Large Options Volume (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 307,726 call options on the company. This represents an increase of 67% compared to the average daily volume of 184,433 call options.

Insider Buying and Selling

In other news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now directly owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,687 shares of company stock worth $14,908,594. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the period. American Century Companies Inc. lifted its holdings in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $108,434,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on COIN. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Needham & Company LLC increased their target price on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday. Compass Point decreased their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Barclays boosted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $179.25 on Friday. Coinbase Global has a 12 month low of $73.56 and a 12 month high of $283.48. The firm has a market capitalization of $44.54 billion, a price-to-earnings ratio of 32.18 and a beta of 3.35. The business’s 50 day simple moving average is $181.56 and its 200-day simple moving average is $209.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm 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 13.89%. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. As a group, equities analysts forecast that Coinbase Global will post 3.92 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.