Coinbase Global (NASDAQ:COIN) Shares Gap Up – Time to Buy?

Coinbase Global, Inc. (NASDAQ:COIN) gapped up prior to trading on Monday . The stock had previously closed at $215.62, but opened at $232.23. Coinbase Global shares last traded at $222.76, with a volume of 4,942,501 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on COIN shares. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Barclays lifted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $311.56.

Coinbase Global Stock Up 4.7 %

The company has a market capitalization of $56.48 billion, a PE ratio of 23.42 and a beta of 3.61. The stock’s fifty day moving average is $265.52 and its two-hundred day moving average is $241.38. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of the business. Siemens Fonds Invest GmbH raised its holdings in Coinbase Global by 2,578.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 54,095 shares of the cryptocurrency exchange’s stock valued at $13,432,000 after acquiring an additional 52,075 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,749,000. Chelsea Counsel Co. raised its stake in shares of Coinbase Global by 176.5% during the 4th quarter. Chelsea Counsel Co. now owns 470 shares of the cryptocurrency exchange’s stock valued at $117,000 after purchasing an additional 300 shares during the period. Bernard Wealth Management Corp. purchased a new stake in Coinbase Global during the 4th quarter worth about $56,000. Finally, Chokshi & Queen Wealth Advisors Inc bought a new position in Coinbase Global in the 4th quarter worth about $555,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.