Lutke Tobias Acquires Coinbase Global Inc. (COIN) Shares

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Coinbase Global Inc. (NASDAQ:COIN) finished Thursday with an addition of $2.25 to close at $34.78, an upside of 6.92 percent. An average of 9,002,820 shares of common stock have been traded in the last five days. There was a fall of -$0.37 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 11,273,270 shares traded, while the 50-day average volume stands at 14,774,854.

COIN stock has decreased by -19.32% in the last month. The company shares reached their 1-month lowest point of $31.83 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $31.83 and a high of $263.01 in 52 weeks. It has reached a new high 2 times so far this year and lost -86.22% or -$217.59 in price. In spite of this, the price is down -86.78% from the 52-week high.


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Insider Transactions

COIN stock investors should be aware that Coinbase Global Inc. (COIN) stock had its last reported insider trading activity 3 days ago on Dec 28. In this transaction, the insider spent $3,180,054. Chairman and CEO, Armstrong Brian, disposed of 14,866 shares at a price of $35.31 on Dec 20. The insider now owns more than $524,980 worth of shares. Prior to that, Chief Financial Officer HAAS ALESIA J went on to Sale 92,000 shares at $45.31 each on Dec 13. An amount of $4,168,572 was transacted.

Valuation Metrics

Coinbase Global Inc. (COIN) has a trailing price-to-sales (P/S) ratio at 1.52, the price-to-book (PB) ratio at 1.38.

Financial Health

The quick ratio of Coinbase Global Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.60 and a total debt to equity ratio of 0.60 for the quarter ending June 29. Its gross profit as reported stood at $6.57 billion compared to revenue of $7.84 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Coinbase Global Inc.’s return on assets was -1.70%.

Earnings Surprise

For the three-month period that ended June 29, Coinbase Global Inc. had $3.39 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$544.64 million in the quarter, while revenues were grew 173.87%. The analyst consensus anticipated Coinbase Global Inc.’s latest quarter earnings to come in at -$2.65 per share, but it turned out to be -$4.95, a -86.80% surprise. For the quarter, EBITDA amounted to -$514.17 million. Shareholders own equity worth $226.97 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Coinbase Global Inc. (COIN) price momentum. RSI 9-day as of the close on 29 December was 39.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 63.25%.

As of today, COIN’s price is $34.01 -1.05% or -$0.37 from its 5-day moving average. COIN is currently trading -23.94% lower than its 20-day SMA and -64.52% lower than its 100-day SMA. However, the stock’s current price level is -47.47% below the SMA50 and -77.70% below the SMA200.

The stochastic %K and %D were 8.89% and 10.02%, respectively, and the average true range (ATR) was 2.96. With the 14-day stochastic at 20.34% and the average true range at 3.43, the RSI (14) stands at 37.79%. The stock has reached -1.34 on the 9-day MACD Oscillator while the 14-day reading was at -3.22.

Analyst Ratings

KeyBanc Capital Markets launched coverage on Coinbase Global Inc. (NASDAQ: COIN) in its analyst report released on December 12, 2022. The firm assigned the stock a Sector weight rating. The consensus rating for Coinbase Global Inc. (COIN) among analysts is Hold. According to current brokerage recommendations, 5 brokerage firms advise that investors sell COIN, while 12 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 11 others rate it as a “buy”.

What is COIN’s price target for the next 12 months?

Analysts predict a range of price targets between $30.00 and $200.00, with a median target of $66.00. Taking a look at these predictions, the average price target given by analysts for Coinbase Global Inc. (COIN) stock is $72.88.

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