Coinbase Global (NASDAQ:COIN) Shares Up 0.2% – Time to Buy?

Coinbase Global, Inc. (NASDAQ:COIN) shares rose 0.2% during trading on Wednesday . The company traded as high as $285.33 and last traded at $280.88. Approximately 1,515,036 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 7,917,553 shares. The stock had previously closed at $280.39.

Analysts Set New Price Targets

COIN has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, HC Wainwright restated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Nine investment 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 presently has an average rating of “Moderate Buy” and an average target price of $284.06.

Coinbase Global Trading Up 1.5 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61. The firm’s 50 day moving average is $285.66 and its two-hundred day moving average is $236.83.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 401,798 shares of company stock valued at $119,826,444. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth about $409,919,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after acquiring an additional 15,954 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.