Coinbase Global (NASDAQ:COIN) Sees Unusually-High Trading Volume – What’s Next?

Shares of Coinbase Global, Inc. (NASDAQ:COIN) saw an uptick in trading volume on Thursday . 6,509,371 shares were traded during trading, a decline of 41% from the previous session’s volume of 11,079,631 shares.The stock last traded at $310.05 and had previously closed at $320.01.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Needham & Company LLC lifted their target price on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $251.00.

Coinbase Global Price Performance

The company has a market cap of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. The stock has a fifty day moving average price of $214.20 and a 200-day moving average price of $215.15. 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) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 78.8% on a year-over-year basis. On average, equities analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock valued at $50,033,426 over the last three months. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at about $25,000. Crewe Advisors LLC raised its position in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global in the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth $32,000. Hedge funds and other institutional investors 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.