Coinbase Global (NASDAQ:COIN) Shares Gap Down to $245.10

Coinbase Global, Inc. (NASDAQ:COIN) gapped down before the market opened on Tuesday . The stock had previously closed at $245.10, but opened at $238.25. Coinbase Global shares last traded at $237.38, with a volume of 1,057,285 shares.

Analysts Set New Price Targets

Several research firms recently issued reports on COIN. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Sanford C. Bernstein boosted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. HC Wainwright reiterated a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a research report on Tuesday. Finally, Wedbush increased their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $215.50.

Get Our Latest Analysis on COIN

Coinbase Global Stock Down 2.7 %

The company has a market capitalization of $58.56 billion, a P/E ratio of 48.00 and a beta of 3.44. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $228.90 and a 200 day moving average price of $196.80.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. On average, research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at $529,287.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction on Monday, April 15th. The shares were sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the completion of the transaction, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at approximately $529,287.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 377,803 shares of company stock valued at $86,110,620. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barrett & Company Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Geneos Wealth Management Inc. increased its stake in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Coinbase Global during the first quarter valued at about $32,000. Institutional investors own 68.84% of the company’s stock.

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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