COIN stock opened at $291.00 on Thursday. The firm's fifty day moving average is $288.15 and its 200 day moving average is $235.21.
Strategic Planning Group LLC picked up a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company's latest filing with the Securities & Exchange Commission. The institutional investor acquired 11,828 shares of the cryptocurrency exchange's stock, valued at approximately $2,937,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the 3rd quarter worth $409,919,000. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP lifted its stake in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock worth $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP bought a new stake in Coinbase Global during the third quarter valued at about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the third quarter valued at about $29,756,000. 68.84% of the stock is currently owned by institutional investors.
Coinbase Global Stock Up 3.3 %
COIN stock opened at $291.00 on Thursday. The firm's 50-day moving average is $288.15 and its 200-day moving average is $235.21. The firm has a market cap of $72.85 billion, a PE ratio of 49.66 and a beta of 3.59. Coinbase Global, Inc. has a one-year low of $114.51 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.
Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global's revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. On average, research analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have commented on COIN shares. JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright restated a "buy" rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Monness Crespi & Hardt lifted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Piper Sandler boosted their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.06.
Read Our Latest Research Report on Coinbase Global
