Coinbase Global (NASDAQ:COIN) Stock Price Up 2.2% Following Analyst Upgrade

Coinbase Global, Inc. (NASDAQ:COIN)’s share price rose 2.2% during trading on Monday after Barclays raised their price target on the stock from $179.00 to $204.00. Barclays currently has an underweight rating on the stock. Coinbase Global traded as high as $235.80 and last traded at $228.12. Approximately 4,799,143 shares were traded during trading, a decline of 64% from the average daily volume of 13,230,439 shares. The stock had previously closed at $223.25.

Several other equities research analysts have also commented on COIN. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Mizuho increased 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. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday. HC Wainwright increased their price target on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Citigroup increased their price target on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $193.85.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 420,597 shares of company stock valued at $86,053,862. 33.16% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several hedge funds have recently made changes to their positions in the company. Fountainhead AM LLC raised its stake in shares of Coinbase Global by 2.1% in the fourth 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. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after purchasing an additional 81 shares in the last quarter. Nilsine Partners LLC grew its position in shares of Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Coinbase Global by 2.6% in the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares in the last quarter. Finally, Concord Wealth Partners grew its position in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

The company has a market capitalization of $54.98 billion, a PE ratio of 45.30 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $236.37 and a two-hundred day moving average price of $167.06.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the business earned ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

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.