Coinbase Global (NASDAQ:COIN) Shares Up 3.2% – What’s Next?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) shot up 3.2% during trading on Friday . The stock traded as high as $307.29 and last traded at $305.50. 3,830,557 shares were traded during mid-day trading, a decline of 52% from the average session volume of 8,047,986 shares. The stock had previously closed at $296.01.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Oppenheimer dropped their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, Piper Sandler raised their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Stock Up 0.7 %

The company has a market cap of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. The firm has a 50-day simple moving average of $290.54 and a two-hundred day simple moving average of $233.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,489 shares of company stock valued at $109,624,297. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the third quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB increased its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $55,000. 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.