Coinbase Global (NASDAQ:COIN) Shares Up 4.6%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were up 4.6% during mid-day trading on Thursday . The stock traded as high as $268.43 and last traded at $268.43. Approximately 3,933,135 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 14,888,917 shares. The stock had previously closed at $256.70.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. HC Wainwright boosted their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Oppenheimer lifted their price objective on shares of Coinbase Global from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research note on Thursday. Finally, TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.30.

Coinbase Global Stock Performance

The company has a market capitalization of $64.23 billion, a price-to-earnings ratio of 981.93 and a beta of 3.36. The company’s fifty day simple moving average is $185.44 and its two-hundred day simple moving average is $136.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the company posted ($2.46) EPS. The business’s revenue was up 51.6% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marc L. Andreessen sold 33,992 shares of Coinbase Global stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $764,148.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coinbase Global news, Director Marc L. Andreessen sold 33,992 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $764,148.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,281,910.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 759,107 shares of company stock valued at $117,220,321. Company insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently made changes to their positions in COIN. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth $26,000. Ancora Advisors LLC grew its holdings in shares of Coinbase Global by 144.0% during the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Tyler Stone Wealth Management acquired a new stake in Coinbase Global during the second quarter valued at approximately $31,000. Finally, Quarry LP acquired a new position in Coinbase Global during the fourth quarter worth $32,000. Institutional investors own 68.84% of the company’s stock.

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.