Coinbase Global (NASDAQ:COIN) Stock Price Up 6.1%

Shares of Coinbase Global, Inc. (NASDAQ:COIN) rose 6.1% on Thursday . The stock traded as high as $276.34 and last traded at $272.57. Approximately 7,992,649 shares changed hands during trading, a decline of 47% from the average daily volume of 15,192,626 shares. The stock had previously closed at $256.88.

Analysts Set New Price Targets

COIN has been the subject of several recent research reports. Citigroup boosted their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a report on Friday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $131.52.

Check Out Our Latest Research Report on Coinbase Global

Coinbase Global Stock Performance

The stock has a market cap of $61.90 billion, a P/E ratio of 946.33 and a beta of 3.36. The firm’s 50-day moving average is $177.35 and its two-hundred day moving average is $132.17. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter last year, the firm posted ($2.46) earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, research analysts expect that Coinbase Global, Inc. will post 1.68 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares in the company, valued at $29,333,751.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares in the company, valued at approximately $29,333,751.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of Coinbase Global stock in a transaction dated 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 transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 844,406 shares of company stock worth $129,339,482. Insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mariner LLC grew its position in shares of Coinbase Global by 5.4% during the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after buying an additional 4,259 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares during the period. Barclays PLC grew its position in shares of Coinbase Global by 41.5% in the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after purchasing an additional 118,670 shares during the period. California Public Employees Retirement System boosted its position in Coinbase Global by 25.4% during the 3rd quarter. California Public Employees Retirement System now owns 304,653 shares of the cryptocurrency exchange’s stock worth $22,873,000 after acquiring an additional 61,788 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Coinbase Global by 9.7% during the 3rd quarter. Whittier Trust Co. now owns 96,971 shares of the cryptocurrency exchange’s stock worth $7,281,000 after acquiring an additional 8,570 shares during the last quarter. 45.96% of the stock is owned by institutional investors.

About Coinbase Global

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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.

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