Coinbase Global surged to $77.77 per share this morning, but it remains 19342.5% 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.
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 | $1,065,193,012 |
| 2023-09-30 | ARK Investment Management, LLC | 6% | 10,603,564 | $824,639,136 |
| 2023-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 5% | 9,166,044 | $712,843,211 |
| 2023-06-30 | Nikko Asset Management Americas, Inc. | 5% | 8,782,227 | $682,993,764 |
| 2023-06-30 | Blackrock Inc. | 4% | 8,021,645 | $623,843,304 |
| 2023-06-30 | Paradigm Operations LP | 2% | 4,515,596 | $351,177,885 |
| 2023-06-30 | State Street Corporation | 2% | 3,634,815 | $282,679,550 |
| 2023-06-30 | Renaissance Technologies, LLC | 2% | 3,057,000 | $237,742,879 |
| 2023-06-30 | Morgan Stanley | 1% | 2,768,439 | $215,301,491 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 2,510,007 | $195,203,235 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Coinbase Global.
