Coinbase Global Sees Unusually High Options Volume (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the target of unusually large options trading on Friday. Stock investors purchased 257,815 call options on the company. This is an increase of approximately 27% compared to the typical daily volume of 203,519 call options.

Insider Buying and Selling

In related news, COO Emilie Choi sold 700 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $558,181.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the transaction, the chief operating officer now owns 225,142 shares in the company, valued at $29,333,751.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,328,077 shares of company stock valued at $184,096,220. Corporate insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. grew its stake in shares of Coinbase Global by 18.4% in the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after acquiring an additional 275 shares in the last quarter. United Bank purchased a new position in Coinbase Global in the first quarter valued at $286,000. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 1,844 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of 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 purchasing an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of 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 purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 8th. The Goldman Sachs Group increased their price objective on Coinbase Global from $55.00 to $123.00 and gave the stock a “sell” rating in a report on Thursday, December 7th. JMP Securities increased their price objective on Coinbase Global from $107.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Wedbush raised their target price on Coinbase Global from $110.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. cut Coinbase Global from a “neutral” rating to an “underweight” rating and set a $80.00 price objective for the company. in a research note on Tuesday, January 23rd. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $103.68.

Read Our Latest Stock Report on COIN

Coinbase Global Stock Up 7.1 %

COIN stock opened at $141.99 on Friday. The firm has a market cap of $33.97 billion, a PE ratio of -43.96 and a beta of 3.14. 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 firm’s 50 day moving average price is $144.40 and its 200-day moving average price is $105.79. Coinbase Global has a one year low of $46.43 and a one year high of $187.39.

Coinbase Global Company Profile

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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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