Coinbase Global (NASDAQ:COIN) Trading Up 1.1%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) were up 1.1% on Wednesday . The company traded as high as $229.59 and last traded at $228.20. Approximately 2,191,311 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 12,606,998 shares. The stock had previously closed at $225.78.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COIN shares. The Goldman Sachs Group decreased their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Oppenheimer lifted their price target on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Mizuho lifted their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Finally, Canaccord Genuity Group lifted their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $214.67.

Coinbase Global Price Performance

The firm has a market cap of $55.77 billion, a P/E ratio of 45.55 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $233.30 and a two-hundred day moving average of $178.43.

Insider Buying and Selling

In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the sale, the director now owns 4,833 shares in the company, valued at approximately $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the transaction, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. Insiders have sold 470,563 shares of company stock worth $104,873,137 in the last 90 days. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Concord Wealth Partners increased its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in Coinbase Global during the 1st quarter worth approximately $32,000. 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.