Coinbase Global, Inc. (NASDAQ:COIN) Sees Large Drop in Short Interest

Coinbase Global, Inc. (NASDAQ:COIN) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 7,130,000 shares, a decline of 12.9% from the January 15th total of 8,190,000 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 11,970,000 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 336,143 shares of company stock valued at $97,842,603 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after acquiring an additional 40 shares during the last quarter. Empowered Funds LLC boosted its position in Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its holdings in shares of Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.5 %

NASDAQ COIN traded down $9.68 during trading hours on Tuesday, reaching $264.63. 11,497,011 shares of the company’s stock were exchanged, compared to its average volume of 8,682,839. The company’s 50-day moving average is $279.49 and its two-hundred day moving average is $239.21. Coinbase Global has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $66.25 billion, a price-to-earnings ratio of 45.16 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. On average, analysts forecast that Coinbase Global will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the topic of several research reports. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Finally, Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $303.94.

Coinbase Global Company Profile

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.