Coinbase Global (NASDAQ:COIN) Price Target Raised to $205.00

Coinbase Global (NASDAQ:COIN) had its price objective increased by Keefe, Bruyette & Woods from $183.00 to $205.00 in a report released on Friday morning,Benzinga reports. They currently have a market perform rating on the cryptocurrency exchange’s stock.

A number of other equities research analysts have also recently weighed in on the company. Bank of America dropped their price objective 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. Compass Point reaffirmed a “sell” rating and issued a $180.00 price objective on shares of Coinbase Global in a research note on Monday, April 28th. Rosenblatt Securities dropped their price objective on Coinbase Global from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Citigroup reissued a “neutral” rating on shares of Coinbase Global in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Coinbase Global from $344.00 to $276.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $268.65.

Coinbase Global Trading Down 3.4%

Shares of NASDAQ COIN opened at $199.47 on Friday. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $187.38 and a 200-day simple moving average of $243.30. The stock has a market capitalization of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,742 shares of company stock valued at $32,639,759. 17.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at about $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global in the 4th quarter valued at about $372,450,000. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after purchasing an additional 333,600 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.