Coinbase Global (NASDAQ:COIN) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $195.00 target price on the cryptocurrency exchange’s stock.

COIN has been the topic of several other reports. Rosenblatt Securities assumed coverage on Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 target price on the stock. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. Barclays boosted their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Stock Up 0.3 %

Shares of NASDAQ:COIN opened at $190.38 on Thursday. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75. The stock’s 50-day moving average price is $248.64 and its two-hundred day moving average price is $240.42. 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 firm has a market cap of $48.33 billion, a price-to-earnings ratio of 20.04 and a beta of 3.66.

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

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This represents a 13.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of COIN. Victory Capital Management Inc. raised its position in shares of Coinbase Global by 6.7% during the 3rd quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock valued at $11,552,000 after acquiring an additional 4,076 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Coinbase Global by 5.6% during the third quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after purchasing an additional 367 shares during the period. Empowered Funds LLC lifted its position in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock valued at $353,000 after buying an additional 68 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coinbase Global during the third quarter worth about $809,000. Institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.