Coinbase Global (NASDAQ:COIN) Earns “Sell” Rating from Compass Point

Compass Point reiterated their sell rating on shares of Coinbase Global (NASDAQ:COIN) in a report released on Monday morning, Marketbeat.com reports. They currently have a $180.00 target price on the cryptocurrency exchange’s stock.

A number of other research firms also recently issued reports on COIN. Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Benchmark initiated coverage on shares of Coinbase Global in a research report on Wednesday, April 23rd. They set a “buy” rating and a $252.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $289.90.

Coinbase Global Stock Performance

COIN stock opened at $205.27 on Monday. The stock has a market capitalization of $52.11 billion, a PE ratio of 21.61 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a 50 day moving average price of $190.84 and a 200 day moving average price of $243.62.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts forecast that Coinbase Global will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,970 shares of company stock valued at $38,672,615. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of COIN. Vanguard Group Inc. raised its holdings in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares in the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment bought a new stake in Coinbase Global during the 4th quarter valued at about $372,450,000. Finally, Northern Trust Corp lifted its stake in Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after acquiring an additional 218,400 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.