Shares of Coinbase Global rose to $74.97 during today's afternoon trading session. Despite the 2.6% change, the large-cap Diversified Financial company still trades 18641.25% above its average analyst target price of $0.4. So there may be further downside for the Diversified Financial stock. Coinbase Global has target prices ranging from $0.4 to $0.4 per share, and its average rating is buy.
The stock has an above average percentage of its shares sold short at 13.2%, and a short ratio of 3.03. 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 |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 7% | 13,696,709 | $1,026,773,740 |
| 2023-09-30 | ARK Investment Management, LLC | 6% | 10,603,564 | $794,896,136 |
| 2023-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 5% | 9,166,044 | $687,132,454 |
| 2023-06-30 | Nikko Asset Management Americas, Inc. | 5% | 8,782,227 | $658,359,614 |
| 2023-06-30 | Blackrock Inc. | 4% | 8,021,645 | $601,342,588 |
| 2023-06-30 | Paradigm Operations LP | 2% | 4,515,596 | $338,511,637 |
| 2023-06-30 | State Street Corporation | 2% | 3,634,815 | $272,483,893 |
| 2023-06-30 | Renaissance Technologies, LLC | 2% | 3,057,000 | $229,167,993 |
| 2023-06-30 | Morgan Stanley | 1% | 2,768,439 | $207,536,019 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 2,510,007 | $188,162,665 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Coinbase Global.
