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
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 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 | Blackrock Inc. | 4% | 7,558,443 | $745,338,068 |
| 2023-03-31 | FMR, LLC | 4% | 6,791,776 | $669,737,035 |
| 2023-03-31 | Morgan Stanley | 2% | 4,161,132 | $410,329,229 |
| 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.
