Coinbase Global, Inc. (NASDAQ:COIN) Receives $314.72 Average PT from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $314.72.

Several research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price objective on the stock. Barclays boosted their target price on shares of 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 research report on Friday, February 21st. Finally, Canaccord Genuity Group increased their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th.

Coinbase Global Stock Down 1.0 %

COIN stock opened at $172.23 on Tuesday. The firm’s 50-day moving average is $236.90 and its two-hundred day moving average is $242.89. The company has a market capitalization of $43.73 billion, a price-to-earnings ratio of 18.13 and a beta of 3.66. Coinbase Global has a 52 week low of $146.12 and a 52 week 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.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%. On average, analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. This represents a 12.59 % 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 25,194 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,609 shares of company stock valued at $61,331,908 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Coinbase Global in the 4th quarter worth $252,000. Virtu Financial LLC acquired a new position in Coinbase Global during the 3rd quarter worth $3,866,000. Blueshift Asset Management LLC boosted its holdings in Coinbase Global by 916.8% during the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after acquiring an additional 16,998 shares during the period. Finally, Savant Capital LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $591,000. 68.84% of the stock is owned by 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.