Shares of Coinbase Global rose to $74.66 during today's evening trading session. Despite the 2.1% change, the large-cap Diversified Financial company still trades 18565.0% 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.
Coinbase Global has an elevated short interest of 13.2%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 3.03. 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 | $1,022,596,344 |
| 2023-09-30 | ARK Investment Management, LLC | 6% | 10,603,564 | $791,662,127 |
| 2023-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 5% | 9,166,044 | $684,336,878 |
| 2023-06-30 | Nikko Asset Management Americas, Inc. | 5% | 8,782,227 | $655,681,099 |
| 2023-06-30 | Blackrock Inc. | 4% | 8,021,645 | $598,896,045 |
| 2023-06-30 | Paradigm Operations LP | 2% | 4,515,596 | $337,134,413 |
| 2023-06-30 | State Street Corporation | 2% | 3,634,815 | $271,375,301 |
| 2023-06-30 | Renaissance Technologies, LLC | 2% | 3,057,000 | $228,235,631 |
| 2023-06-30 | Morgan Stanley | 1% | 2,768,439 | $206,691,665 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 2,510,007 | $187,397,131 |
For these reasons, we consider that the Coinbase Global is the subject of mixed market sentiment.
