This afternoon we watched Coinbase Global drop -2.2% to a price of $214.92 per share. The Large-Cap Diversified Financial company is now trading -12.78% below its average target price of $246.42. Analysts have set target prices ranging from $160.0 to $380.0 per share for Coinbase Global, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 4.9%, and a short ratio of 1.15. The company's insiders own 2.41% 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 55.8% of Coinbase Global's shares being owned by this investor type.
Institutions Invested in Coinbase Global
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 9% | 17,657,059 | $3,794,855,087 |
| 2024-06-30 | FMR, LLC | 5% | 11,032,887 | $2,371,188,053 |
| 2024-06-30 | Blackrock Inc. | 5% | 10,982,136 | $2,360,280,649 |
| 2024-06-30 | Paradigm Operations LP | 2% | 4,515,596 | $970,491,884 |
| 2024-06-30 | State Street Corporation | 2% | 4,142,881 | $890,387,976 |
| 2024-06-30 | ARK Investment Management, LLC | 2% | 3,558,701 | $764,836,012 |
| 2024-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 2% | 3,129,708 | $672,636,837 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 3,111,231 | $668,665,760 |
| 2024-06-30 | Jane Street Group, LLC | 2% | 3,042,010 | $653,788,783 |
| 2024-06-30 | Nikko Asset Management Americas, Inc. | 1% | 2,689,484 | $578,023,896 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Coinbase Global.
