Coinbase Global, Inc. (NASDAQ:COIN) Short Interest Update

Coinbase Global, Inc. (NASDAQ:COIN) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 9,520,000 shares, an increase of 30.8% from the April 15th total of 7,280,000 shares. Based on an average daily trading volume, of 4,890,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 6.5% of the company’s shares are short sold.

In other Coinbase Global news, insider Paul Grewal sold 1,207 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $173.87, for a total value of $209,861.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III bought 706,554 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $70.77 per share, for a total transaction of $50,002,826.58. Following the completion of the transaction, the director now directly owns 706,554 shares of the company’s stock, valued at $50,002,826.58. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of COIN. Morgan Stanley purchased a new position in shares of Coinbase Global during the 2nd quarter valued at $172,984,000. Center for Financial Planning Inc. lifted its position in shares of Coinbase Global by 182.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 127 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Truist Financial Corp lifted its position in shares of Coinbase Global by 14.7% during the 3rd quarter. Truist Financial Corp now owns 8,635 shares of the cryptocurrency exchange’s stock valued at $1,964,000 after buying an additional 1,109 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $255,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $1,188,000. 39.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:COIN opened at $70.00 on Wednesday. The company has a market capitalization of $15.36 billion and a PE ratio of 7.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55. The business has a fifty day moving average price of $145.52 and a two-hundred day moving average price of $211.55. Coinbase Global has a 1 year low of $40.83 and a 1 year high of $368.90.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 35.2% compared to the same quarter last year. Sell-side analysts anticipate that Coinbase Global will post -7.6 earnings per share for the current year.

A number of equities analysts have recently weighed in on COIN shares. JPMorgan Chase & Co. lowered their target price on Coinbase Global from $345.00 to $296.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 23rd. Citigroup lowered their target price on Coinbase Global from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, March 22nd. Mizuho lowered their target price on Coinbase Global from $135.00 to $60.00 in a research report on Thursday, May 12th. Piper Sandler decreased their price target on Coinbase Global from $440.00 to $360.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Finally, Daiwa Capital Markets initiated coverage on Coinbase Global in a report on Friday, April 22nd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $250.89.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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