Coinbase Global surged to $98.61 per share this evening, but it remains 24552.5% above its mean target price of $0.4. There may still be room for more downwards movement — even after today's 4.1% drop. Analysts are giving the large-cap Diversified Financial stock on average rating of buy, with target prices ranging from $0.4 to $0.4 per share.
The stock has an unusually large proportion of its shares sold short at 21.3%, and a short ratio of 1.66. The company's insiders own 4.19% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 59.3% of Coinbase Global's shares being owned by this investor type.
Institutions Invested in Coinbase Global
|2023-03-31||Vanguard Group Inc||7%||13,581,498||$1,339,271,526|
|2023-06-30||ARK Investment Management, LLC||6%||12,121,881||$1,195,338,692|
|2023-03-31||Sumitomo Mitsui Trust Holdings, Inc.||5%||8,610,945||$849,125,291|
|2023-03-31||Nikko Asset Management Americas, Inc.||4%||8,298,784||$818,343,095|
|2023-03-31||Paradigm Operations LP||2%||3,705,596||$365,408,823|
|2023-03-31||State Street Corporation||2%||3,094,590||$305,157,521|
|2023-03-31||Geode Capital Management, LLC||1%||2,341,989||$230,943,536|
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Coinbase Global.