Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 18,500 shares of Coinbase Global stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $96.38, for a total transaction of $1,783,030.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Coinbase Global Stock Up 7.1 %
Shares of COIN stock traded up $7.05 during mid-day trading on Monday, reaching $106.10. 10,967,890 shares of the company were exchanged, compared to its average volume of 14,465,171. Coinbase Global, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $114.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $25.38 billion, a P/E ratio of -32.85 and a beta of 2.65. The business’s 50 day simple moving average is $80.44 and its 200 day simple moving average is $76.38.
Analyst Ratings Changes
Several equities analysts have recently weighed in on COIN shares. HC Wainwright raised their price target on shares of Coinbase Global from $77.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Piper Sandler lifted their target price on shares of Coinbase Global from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Citigroup reduced their target price on shares of Coinbase Global from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. JMP Securities reaffirmed a “market outperform” rating and set a $107.00 target price on shares of Coinbase Global in a research note on Thursday, August 17th. Finally, Bank of America reduced their target price on shares of Coinbase Global from $63.00 to $60.00 in a research note on Thursday, October 12th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.64.
Hedge Funds Weigh In On Coinbase Global
A number of hedge funds have recently added to or reduced their stakes in COIN. Fairfield Bush & CO. lifted its stake in Coinbase Global by 18.4% in the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after buying an additional 275 shares during the last quarter. United Bank bought a new stake in shares of Coinbase Global during the first quarter valued at about $286,000. Bank of New York Mellon Corp grew its holdings in Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after acquiring an additional 1,844 shares during the period. American Century Companies Inc. grew its holdings in Coinbase Global by 269.2% during the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after acquiring an additional 5,211 shares during the period. Finally, Synovus Financial Corp grew its holdings in Coinbase Global by 26.6% during the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 45.96% of the company’s stock.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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