Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,960 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider owned 84,753 shares of the company’s stock, valued at $14,991,110.64. This represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Performance
NASDAQ COIN opened at $189.03 on Friday. The stock has a market capitalization of $49.80 billion, a PE ratio of 71.06, a P/E/G ratio of 6.67 and a beta of 3.38. The business has a 50 day simple moving average of $188.59 and a two-hundred day simple moving average of $212.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.34. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, research analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.
Hedge Funds Weigh In On Coinbase Global
Key Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: The CFTC’s actions on perpetual futures and 24/7 trading create a clearer path for Coinbase to expand into a large, regulated derivatives market that could lift fee revenue and deepen customer engagement. Reuters article on Coinbase and Kalshi bringing regulated perpetual crypto futures to U.S. investors
- Positive Sentiment: Coinbase also said it is giving eligible U.S. institutional clients access to global crypto options and perpetual futures through its regulated futures commission merchant, expanding its derivatives offering and strengthening its institutional platform. Cointelegraph article on Coinbase bringing global crypto derivatives markets to U.S. institutional clients
- Positive Sentiment: Analysts and industry coverage are framing the regulatory shift as a bigger opening for Coinbase in a multi-trillion-dollar derivatives market that has largely been offshore until now. MarketWatch article on crypto perpetual contracts coming to the U.S.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on COIN shares. China Renaissance cut their price target on Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a report on Monday, February 23rd. The Goldman Sachs Group raised their price target on Coinbase Global from $226.00 to $228.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on Coinbase Global from $206.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 8th. Needham & Company LLC cut their price target on Coinbase Global from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Cantor Fitzgerald raised their price objective on Coinbase Global from $221.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $252.10.
Check Out Our Latest Report on COIN
About Coinbase Global
Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.
Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.
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