Coinbase Global (NASDAQ:COIN) Shares Up 1.2% – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price traded up 1.2% during trading on Friday . The stock traded as high as $300.59 and last traded at $298.75. 3,927,292 shares changed hands during trading, a decline of 65% from the average session volume of 11,135,432 shares. The stock had previously closed at $295.23.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COIN shares. Mizuho raised their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Barclays increased their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $251.00.

Coinbase Global Stock Up 5.0 %

The stock’s fifty day moving average price is $211.36 and its 200-day moving average price is $214.61. 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 company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 50.98 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,091 shares of company stock worth $50,033,426. 23.43% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the third quarter worth $25,000. Crewe Advisors LLC increased its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc boosted its stake in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the third quarter worth about $32,000. 68.84% of the stock is currently owned by institutional investors.

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.