Coinbase Global (NASDAQ:COIN) Given New $330.00 Price Target at HC Wainwright

Coinbase Global (NASDAQ:COIN) had its price objective lifted by HC Wainwright from $255.00 to $330.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other equities research analysts have also issued reports on COIN. Monness Crespi & Hardt upped their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $274.90 on Wednesday. The firm has a 50-day simple moving average of $282.81 and a 200-day simple moving average of $237.46. The stock has a market capitalization of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a 52 week low of $137.13 and a 52 week high of $349.75.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 386,798 shares of company stock worth $114,707,944. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors have recently modified their holdings of COIN. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $372,450,000. Proficio Capital Partners LLC lifted its position in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the last quarter. 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.