In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $205.31, up 4.15% from the previous session.
COIN stock price is now -9.50% away from the 50-day moving average and 7.63% away from the 200-day moving average. The market capitalization of the company currently stands at $51.02B.
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With the price target enhanced from $260 to $345, Citigroup Upgraded its rating from Neutral to Buy for Coinbase Global Inc (NASDAQ: COIN). On May 17, 2024, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock increasing its target price from $110 to quote $217, while ‘Barclays’ rates the stock as ‘Underweight’
In other news, Choi Emilie, President & COO sold 1,500 shares of the company’s stock on Aug 14 ’24. The stock was sold for $292,670 at an average price of $195.11. Upon completion of the transaction, the President & COO now directly owns 185,471 shares in the company, valued at $38.08 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 14 ’24, Chairman and CEO Armstrong Brian sold 23,075 shares of the business’s stock. A total of $4,498,169 was realized by selling the stock at an average price of $194.94. This leaves the insider owning 526 shares of the company worth $0.11 million. A total of 23.08% of the company’s stock is owned by insiders.
During the past 12 months, Coinbase Global Inc has had a low of $69.63 and a high of $283.48. The fifty day moving average price for COIN is $225.949 and a two-hundred day moving average price translates $191.41455 for the stock.
The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for 2024-06-30. The net profit margin was 27.56% and return on equity was 20.99% for COIN. The company reported revenue of $1.45 billion for the quarter, compared to $707.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 104.78 percent.
