A share of Coinbase Global Inc. (NASDAQ:COIN) closed at $98.61 per share on Monday, up from $94.76 day before. While Coinbase Global Inc. has overperformed by 4.06%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, COIN rose by 58.41%, with highs and lows ranging from $116.30 to $31.55, whereas the simple moving average jumped by 63.01% in the last 200 days.
On July 19, 2023, Compass Point Reiterated Coinbase Global Inc. (NASDAQ: COIN) to Buy.
Analysis of Coinbase Global Inc. (COIN)
Further, the quarter-over-quarter decrease in sales is -33.80%, showing a negative trend in the upcoming months.
Coinbase Global Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -40.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and COIN is registering an average volume of 16.30M. On a monthly basis, the volatility of the stock is set at 8.47%, whereas on a weekly basis, it is put at 6.13%, with a loss of -0.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $79.73, showing decline from the present price of $98.61, which can serve as yet another indication of whether COIN is worth investing in or should be passed over.
How Do You Analyze Coinbase Global Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 59.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in COIN shares?
The recent increase in stakes in COIN appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in COIN has increased by 3.05% in the first quarter. The company now owns 13,390,659 shares of the stock, with a value of $958.1 million, following the purchase of 395,747 additional shares during the last quarter. ARK Investment Management LLC made another increased to its shares in COIN during the first quarter, upping its stake by 2.94%. During the last quarter, the company picked up 345,866 additional shares for a total stake of worth $867.32 million, bringing number of shares owned by the company to 12,121,881.
During the first quarter, Nikko Asset Management Co., Ltd. added a 1,300,484 position in COIN. Nikko Asset Management Americas, purchased an additional 1.3 million shares in the last quarter, increasing its holdings by 18.55%, now holding 8.3 million shares worth $593.78 million. At the end of the first quarter, Fidelity Management & Research Co increased its COIN holdings by 415.10% and now holds 6.77 million COIN shares valued at $484.34 million with the added 5.46 million shares during the period. COIN shares are owned by institutional investors to the tune of 59.30% at present.