Coinbase Global, Inc. (NASDAQ:COIN)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $281.63, but opened at $292.00. Coinbase Global shares last traded at $299.85, with a volume of 2,643,671 shares trading hands.
A number of research firms have weighed in on COIN. B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Monness Crespi & Hardt raised their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Oppenheimer dropped their price target on shares of Coinbase Global from $358.00 to $334.00 and set an "outperform" rating on the stock in a report on Friday. Finally, JMP Securities reissued a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and a consensus price target of $282.83.
Check Out Our Latest Stock Analysis on COIN
The firm has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The stock's 50-day simple moving average is $291.21 and its two-hundred day simple moving average is $231.26. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 4.69 EPS for the current year.
In related news, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 20,000 shares of the company's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares of the company's stock, valued at approximately $37,341,000. This represents a 13.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock worth $102,613,277 over the last three months. 23.43% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the third quarter worth $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global during the third quarter valued at $32,000. MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock valued at $45,000 after purchasing an additional 204 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock valued at $48,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 68.84% of the company's stock.
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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