Coinbase Global (NASDAQ:COIN) Trading Up 7.2% – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN) was up 7.2% during mid-day trading on Monday . The stock traded as high as $293.60 and last traded at $290.27. Approximately 4,873,726 shares were traded during trading, a decline of 11% from the average daily volume of 5,503,181 shares. The stock had previously closed at $270.65.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. Needham & Company LLC raised their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler upped their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Oppenheimer lifted their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $288.44.

Coinbase Global Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50 day moving average price is $284.12 and its 200-day moving average price is $229.01. The company has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted 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 analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $32,028,357.36. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction 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. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,483 shares of company stock worth $96,470,997 in the last 90 days. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the third quarter worth $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global in the third quarter valued at about $32,000. 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. Abich Financial Wealth Management LLC grew its holdings in Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after acquiring an additional 181 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at about $55,000. 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.