Coinbase Global Sees Unusually High Options Volume (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the target of some unusual options trading on Friday. Investors purchased 257,815 call options on the stock. This represents an increase of approximately 27% compared to the average daily volume of 203,519 call options.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 18,500 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $96.38, for a total transaction of $1,783,030.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Brian Armstrong sold 18,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $96.38, for a total value of $1,783,030.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 1,000 shares of Coinbase Global stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $175.00, for a total transaction of $175,000.00. Following the completion of the transaction, the chief financial officer now directly owns 278,784 shares in the company, valued at $48,787,200. The disclosure for this sale can be found here. Insiders sold 1,328,077 shares of company stock worth $184,096,220 over the last 90 days. Company insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares during the period. Fountainhead AM LLC increased its stake in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors increased its stake in Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after buying an additional 86 shares during the period. Stratos Wealth Partners LTD. increased its stake in Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after buying an additional 90 shares during the period. Finally, Larson Financial Group LLC increased its stake in Coinbase Global by 34.5% in the 4th quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock valued at $61,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 45.96% of the company’s stock.

Coinbase Global Trading Up 7.1 %

Shares of COIN opened at $141.99 on Friday. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $187.39. The firm has a market capitalization of $33.97 billion, a P/E ratio of -43.96 and a beta of 3.14. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $144.40 and its two-hundred day moving average is $105.79.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $55.00 to $123.00 and gave the company a “sell” rating in a report on Thursday, December 7th. JMP Securities upped their price objective on shares of Coinbase Global from $107.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Wedbush upped their price objective on shares of Coinbase Global from $110.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. Needham & Company LLC upped their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Oppenheimer upgraded shares of Coinbase Global from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Friday, January 26th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $103.68.

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About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.

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