Coinbase Global (NASDAQ:COIN) Trading Down 1.2%

Coinbase Global, Inc. (NASDAQ:COIN) was down 1.2% on Tuesday . The company traded as low as $271.10 and last traded at $276.42. Approximately 4,649,565 shares were traded during trading, a decline of 69% from the average daily volume of 15,049,954 shares. The stock had previously closed at $279.71.

Analyst Ratings Changes

A number of equities research analysts have weighed in on COIN shares. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. HC Wainwright raised their price objective on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Finally, Piper Sandler lifted their target price on Coinbase Global from $125.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $136.30.

Coinbase Global Stock Down 3.8 %

The firm has a 50 day simple moving average of $185.44 and a two-hundred day simple moving average of $136.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $62.19 billion, a P/E ratio of 950.74 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.46) EPS. Equities research analysts predict that Coinbase Global, Inc. will post 1.68 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, Director Marc L. Andreessen sold 33,992 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total value of $5,571,628.72. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $764,148.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc L. Andreessen sold 33,992 shares of Coinbase Global stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total value of $5,571,628.72. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $764,148.42. The disclosure for this sale can be found here. Insiders have sold 742,727 shares of company stock valued at $112,716,312 in the last quarter. Corporate insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after acquiring an additional 408,046 shares during the last quarter. Morgan Stanley grew its holdings in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Coinbase Global by 84.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock worth $218,728,000 after acquiring an additional 1,402,169 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 7.2% during the second quarter. Geode Capital Management LLC now owns 2,510,007 shares of the cryptocurrency exchange’s stock valued at $179,317,000 after buying an additional 168,018 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter valued at $50,254,000. 68.84% of the stock is currently 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.