An Overview Of Coinbase Global Inc (NASDAQ: COIN)

In the latest trading session, 4.2 million Coinbase Global Inc (NASDAQ:COIN) shares changed hands as the company’s beta touched 3.15. With the company’s most recent per share price at $148.39 changing hands around $6.4 or 4.51% at last look, the market valuation stands at $35.50B. COIN’s current price is a discount, trading about -26.28% off its 52-week high of $187.39. The share price had its 52-week low at $46.43, which suggests the last value was 68.71% up since then. When we look at Coinbase Global Inc’s average trading volume, we note the 10-day average is 10.7 million shares, with the 3-month average coming to 1.35.

Coinbase Global Inc (NASDAQ:COIN) trade information

Instantly COIN is in green as seen in intraday trades today. With action 26.50%, the performance over the past five days has been green. The jump to weekly highs of 148.06 added 4.51% to the stock’s daily price. The company’s shares are showing year-to-date downside of -14.68%, with the 5-day performance at 26.50% in the green. However, in the 30-day time frame, Coinbase Global Inc (NASDAQ:COIN) is 5.12% up. Looking at the short shares, we see there were 17.58 million shares sold at short interest cover period of 1.17 days.

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Coinbase Global Inc (COIN) estimates and forecasts

Data shows that the Coinbase Global Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 83.17% over the past 6 months, a 93.07% in annual growth rate that is considerably higher than the industry average of 5.40%. Year-over-year growth is forecast to reach 44.30% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $270k. The company’s revenue for the corresponding quarters a year ago was $200k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 35.00%.

Coinbase Global Inc (NASDAQ:COIN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.67% of Coinbase Global Inc shares while 51.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.48%. There are 51.52% institutions holding the Coinbase Global Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.21% of the shares, roughly 13.7 million COIN shares worth $980.0 million.

ARK Investment Management, LLC holds the second largest percentage of outstanding shares, with 5.58% or 10.6 million shares worth $796.12 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. With 7.08 million shares estimated at $531.82 million under it, the former controlled 3.73% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.46% of the shares, roughly 4.68 million shares worth around $334.96 million.

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