Stocks of Coinbase Global Inc (NASDAQ:COIN) traded higher last session on Wall Street, down -2.61% to $183.36.
COIN stock price is now -15.68% away from the 50-day moving average and -6.70% away from the 200-day moving average. The market capitalization of the company currently stands at $45.56B.
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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, Grewal Paul, Chief Legal Officer sold 16,962 shares of the company’s stock on Aug 26 ’24. The stock was sold for $3,510,510 at an average price of $206.96. Upon completion of the transaction, the Chief Legal Officer now directly owns 75,556 shares in the company, valued at $13.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23 ’24, Chief People Officer Brock Lawrence J sold 15,610 shares of the business’s stock. A total of $3,243,394 was realized by selling the stock at an average price of $207.78. This leaves the insider owning 18,525 shares of the company worth $3.4 million. A total of 23.06% 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 $216.4186 and a two-hundred day moving average price translates $196.98656 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.
