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Coinbase Global Inc (COIN) – key numbers that make it a Strong Buy For Now

Coinbase Global Inc (NASDAQ: COIN) is 41.35% higher on its value in year-to-date trading and has touched a low of $46.43 and a high of $283.48 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The COIN stock was last observed hovering at around $252.11 in the last trading session, with the day’s loss setting it -6.27%.

Currently trading at $245.84, the stock is -1.40% and 29.60% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.79 million and changing -2.49% at the moment leaves the stock 103.47% off its SMA200. COIN registered 283.17% gain for a year compared to 6-month gain of 227.44%. The firm has a 50-day simple moving average (SMA 50) of $18.28 and a 200-day simple moving average (SMA200) of $390.40.

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The stock witnessed a 19.47% loss in the last 1 month and extending the period to 3 months gives it a 41.35%, and is -12.11% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.44% over the week and 7.86% over the month.

Coinbase Global Inc (COIN) has around 3416 employees, a market worth around $59.56B and $3.11B in sales. Current P/E ratio is 912.21 and Fwd P/E is 116.21. Profit margin for the company is 3.05%. Distance from 52-week low is 429.49% and -13.28% from its 52-week high. The company has generated returns on investments over the last 12 months (1.02%).

Coinbase Global Inc quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 669.63% this year, but quarterly earnings will post -32.00% year-over-year.

Coinbase Global Inc (COIN) Top Institutional Holders

1,086 institutions hold shares in Coinbase Global Inc (COIN), with institutional investors hold 57.23% of the company’s shares. The shares outstanding are 195.19M, and float is at 169.56M with Short Float at 6.67%. Institutions hold 54.37% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 13.7 million shares valued at $980.0 million. The investor’s holdings represent 7.21% of the COIN Shares outstanding. As of Sep 29, 2023, the second largest holder is ARK Investment Management, LLC with 10.6 million shares valued at $796.12 million to account for 5.58% of the shares outstanding. The other top investors are Sumitomo Mitsui Trust Holdings, Inc. which holds 9.17 million shares representing 4.83% and valued at over $655.83 million, while Nikko Asset Management Americas, Inc. holds 4.62% of the shares totaling 8.78 million with a market value of $628.37 million.

Coinbase Global Inc (COIN) Insider Activity

The most recent transaction is an insider sale by Choi Emilie,the company’sPresident & COO. SEC filings show that Choi Emilie sold 1,500 shares of the company’s common stock on Mar 28 ’24 at a price of $260.00 per share for a total of $0.39 million. Following the sale, the insider now owns 0.22 million shares.

Coinbase Global Inc disclosed in a document filed with the SEC on Mar 26 ’24 that Ehrsam Frederick Ernest III (Director) sold a total of 16,380 shares of the company’s common stock. The trade occurred on Mar 26 ’24 and was made at $274.97 per share for $4.5 million. Following the transaction, the insider now directly holds 0.0 shares of the COIN stock.

Still, SEC filings show that on Mar 26 ’24, Andreessen Marc L (Director) disposed off 6,740 shares at an average price of $274.79 for $1.85 million. The insider now directly holds 0 shares of Coinbase Global Inc (COIN).

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