Coinbase Global (NASDAQ:COIN) Shares Up 4%

Coinbase Global, Inc. (NASDAQ:COIN) was up 4% during trading on Monday . The company traded as high as $233.86 and last traded at $231.19. Approximately 2,846,101 shares were traded during trading, a decline of 76% from the average daily volume of 11,813,008 shares. The stock had previously closed at $222.23.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COIN shares. Piper Sandler raised their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Wedbush raised their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.50.

Coinbase Global Stock Up 5.6 %

The business’s 50 day moving average is $227.70 and its 200 day moving average is $202.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $57.65 billion, a price-to-earnings ratio of 46.15 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Equities analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,134,264.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the transaction, the director now owns 4,662 shares in the company, valued at approximately $1,134,264.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Insiders sold 360,021 shares of company stock valued at $80,655,822 in the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the 4th quarter worth $27,000. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Coinbase Global during the 1st quarter worth $32,000. Institutional investors and hedge funds 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.