Coinbase Global (NASDAQ:COIN) Stock Price Up 0.1% – Still a Buy?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) traded up 0.1% on Wednesday . The stock traded as high as $289.00 and last traded at $282.08. 1,707,795 shares were traded during trading, a decline of 79% from the average session volume of 8,070,957 shares. The stock had previously closed at $281.82.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Keefe, Bruyette & Woods lowered their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Needham & Company LLC raised their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $250.00 to $290.00 in a report on Wednesday. Finally, Piper Sandler lifted their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Stock Up 2.8 %

The company has a 50-day moving average price of $288.73 and a 200 day moving average price of $234.81. The firm has a market capitalization of $72.52 billion, a PE ratio of 49.50 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 377,705 shares of company stock valued at $112,792,687. 23.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC increased its stake in Coinbase Global by 62.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,537 shares of the cryptocurrency exchange’s stock worth $878,000 after acquiring an additional 1,366 shares during the last quarter. Capital Advisors Inc. OK bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $223,000. Sovran Advisors LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $325,000. Focus Financial Network Inc. grew its stake in shares of Coinbase Global by 39.6% during the fourth quarter. Focus Financial Network Inc. now owns 1,939 shares of the cryptocurrency exchange’s stock valued at $481,000 after buying an additional 550 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $1,426,000. 68.84% of the stock is owned by institutional investors.

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.