Coinbase Global (NASDAQ:COIN) Trading Up 0.2% – Still a Buy?

Coinbase Global, Inc. (NASDAQ:COIN) shares traded up 0.2% during mid-day trading on Wednesday . The stock traded as high as $285.33 and last traded at $280.88. 1,515,036 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 7,917,553 shares. The stock had previously closed at $280.39.

Analyst Ratings Changes

A number of research analysts have weighed in on COIN shares. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods reduced their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Stock Down 0.8 %

The company has a market capitalization of $69.61 billion, a P/E ratio of 47.48 and a beta of 3.61. 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 firm has a fifty day simple moving average of $287.18 and a 200-day simple moving average of $236.32.

Insider Buying and Selling

In related news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $254.89, for a total transaction of $2,548,900.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,940,100. The trade was a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,570 shares of company stock valued at $111,328,987. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Coinbase Global by 2.9% in the fourth quarter. US Bancorp DE now owns 8,010 shares of the cryptocurrency exchange’s stock valued at $1,989,000 after buying an additional 224 shares in the last quarter. SVB Wealth LLC bought a new position in Coinbase Global in the 4th quarter valued at $894,000. Flputnam Investment Management Co. bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $3,057,000. Private Trust Co. NA lifted its position in shares of Coinbase Global by 390.6% during the 4th quarter. Private Trust Co. NA now owns 628 shares of the cryptocurrency exchange’s stock valued at $156,000 after buying an additional 500 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Coinbase Global during the fourth quarter worth about $154,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.