Coinbase Global (NASDAQ:COIN) Stock Price Up 3.1% – What’s Next?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price was up 3.1% during trading on Friday . The stock traded as high as $266.66 and last traded at $265.15. Approximately 1,764,213 shares were traded during trading, a decline of 55% from the average daily volume of 3,888,207 shares. The stock had previously closed at $257.21.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COIN. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $286.22.

Coinbase Global Trading Up 5.2 %

The business has a 50-day moving average price of $280.83 and a 200-day moving average price of $228.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $67.76 billion, a P/E ratio of 46.19 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. Analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $181.36, for a total transaction of $272,040.00. Following the completion of the sale, the chief operating officer now owns 176,601 shares in the company, valued at $32,028,357.36. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,641 shares of company stock valued at $80,937,273 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at $32,000. Abich Financial Wealth Management LLC increased its stake 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 valued at $48,000 after buying an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Coinbase Global by 233.7% during the 2nd quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 208 shares during the last quarter. 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.