Coinbase Global surged to $81.34 per share this afternoon, but it remains 20234.9% above its mean target price of $0.4. There may still be room for more downwards movement — even after today's 4.2% 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.
Coinbase Global has an elevated short interest of 14.6%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 2.38. The company's insiders own 4.19% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 59.3% of Coinbase Global shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Coinbase Global
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 7% | 13,696,709 | $1,114,084,826 |
| 2023-06-30 | ARK Investment Management, LLC | 6% | 12,121,881 | $985,988,947 |
| 2023-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 5% | 9,166,044 | $745,562,348 |
| 2023-06-30 | Nikko Asset Management Americas, Inc. | 5% | 8,782,227 | $714,342,827 |
| 2023-06-30 | Blackrock Inc. | 4% | 8,021,645 | $652,477,392 |
| 2023-06-30 | Paradigm Operations LP | 2% | 4,515,596 | $367,296,770 |
| 2023-06-30 | State Street Corporation | 2% | 3,634,815 | $295,654,396 |
| 2023-06-30 | Renaissance Technologies, LLC | 2% | 3,057,000 | $248,655,156 |
| 2023-06-30 | Morgan Stanley | 1% | 2,768,439 | $225,183,719 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 2,510,007 | $204,162,964 |
For these reasons, we consider that the Coinbase Global is the subject of mixed market sentiment.
