Coinbase Global Inc (NASDAQ: COIN) stock jumped 2.20% on Friday to $99.05 against a previous-day closing price of $96.92. With 7.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.26 million shares. During the session, the Financial Data & Stock Exchanges company that operates in wider Financial sector, reached to the highest price of $99.43 whereas the lowest price it dropped to was $94.90. The 52-week range on COIN shows that it touched its highest point at $114.43 and its lowest point at $31.55 during that stretch. It currently has a 1-year price target of $86.24. Beta for the stock currently stands at 2.72.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COIN was up-trending over the past week, with a rise of 6.60%, but this was up by 35.50% over a month. Three-month performance surged to 31.58% while six-month performance rose 74.45%. The stock gained 102.85% in the past year, while it has gained 179.88% so far this year. A look at the trailing 12-month EPS for COIN yields -3.23 with Next year EPS estimates of -0.69. For the next quarter, that number is -0.22. This implies an EPS growth rate of 91.21% for this year and 33.82% for next year.
Float and Shares Shorts:
At present, 182.80 million COIN shares are outstanding with a float of 179.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.38 million, which was 10.19% higher than short shares on Sep 28, 2023. In addition to Mr. Brian Armstrong as the firm’s Co-Founder, Chairman & CEO, Ms. Emilie M. Choi serves as its President & COO.
Through their ownership of 59.26% of COIN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.33% of COIN, in contrast to 26.16% held by mutual funds. Shares owned by individuals account for 24.85%. As the largest shareholder in COIN with 7.19% of the stake, The Vanguard Group, Inc. holds 13,647,170 shares worth 13,647,170. A second-largest stockholder of COIN, ARK Investment Management LLC, holds 10,603,564 shares, controlling over 5.58% of the firm’s shares. Nikko Asset Management Co., Ltd. is the third largest shareholder in COIN, holding 7,908,087 shares or 4.16% stake. With a 3.74% stake in COIN, the ARK Innovation ETF is the largest stakeholder. A total of 7,112,240 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.50% of COIN stock, is the second-largest Mutual Fund holder. It holds 4,754,896 shares valued at 366.7 million. Vanguard Mid Cap Index Fund holds 1.61% of the stake in COIN, owning 3,049,457 shares worth 235.17 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COIN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With COIN analysts setting a high price target of $150.00 and a low target of $31.00, the average target price over the next 12 months is $86.24. Based on these targets, COIN could surge 51.44% to reach the target high and fall by -68.7% to reach the target low. Reaching the average price target will result in a decline of -12.93% from current levels.
Summary of Insider Activity:
Insiders traded COIN stock several times over the past three months with 15 Buys and 14 Sells. In these transactions, 102,238 shares were bought while 76,612 shares were sold. The number of buy transactions has increased to 98 while that of sell transactions has risen to 106 over the past year. The total number of shares bought during that period was 1,826,030 while 797,192 shares were sold.