In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $244.50, down -1.27% from the previous session.
COIN stock price is now 6.62% away from the 50-day moving average and 53.43% away from the 200-day moving average. The market capitalization of the company currently stands at $60.04B.
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With the price target enhanced from $110 to $217, BofA Securities Upgraded its rating from Underperform to Neutral for Coinbase Global Inc (NASDAQ: COIN). On April 10, 2024, BofA Securities reiterated its ‘Underperform’ rating on the stock by increasing its target price from $92 to quote $110, while ‘Barclays’ rates the stock as ‘Underweight’
In other news, Armstrong Brian, Chairman and CEO sold 23,075 shares of the company’s stock on Jun 10 ’24. The stock was sold for $5,724,469 at an average price of $248.08. Upon completion of the transaction, the Chairman and CEO now directly owns 526 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05 ’24, Director WILSON FREDERICK R sold 80,539 shares of the business’s stock. A total of $20,141,749 was realized by selling the stock at an average price of $250.09. This leaves the insider owning 100,000 shares of the company worth $24.45 million. A total of 23.33% of the company’s stock is owned by insiders.
During the past 12 months, Coinbase Global Inc has had a low of $50.93 and a high of $283.48. The fifty day moving average price for COIN is $229.2062 and a two-hundred day moving average price translates $160.1566 for the stock.
The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for 2024-03-31. The net profit margin was 28.94% and return on equity was 19.63% for COIN. The company reported revenue of $1.64 billion for the quarter, compared to $772.53 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.98 percent.
