Coinbase Global, Inc. (NASDAQ:COIN) Given Average Recommendation of “Moderate Buy” by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $295.65.

A number of analysts have recently issued reports on COIN shares. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $16,505,971.56. This represents a 10.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,970 shares of company stock valued at $38,672,615. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Sage Advisors LLC bought a new stake in Coinbase Global in the first quarter worth $358,000. Amalgamated Bank raised its position in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after buying an additional 629 shares in the last quarter. Sovran Advisors LLC lifted its holdings in shares of Coinbase Global by 29.7% in the 1st quarter. Sovran Advisors LLC now owns 1,653 shares of the cryptocurrency exchange’s stock valued at $289,000 after acquiring an additional 379 shares during the last quarter. Joel Isaacson & Co. LLC grew its position in Coinbase Global by 103.9% in the first quarter. Joel Isaacson & Co. LLC now owns 11,528 shares of the cryptocurrency exchange’s stock worth $1,985,000 after acquiring an additional 5,875 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC purchased a new position in Coinbase Global in the first quarter worth about $239,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $209.64 on Friday. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a market capitalization of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65. The firm has a 50 day moving average of $191.91 and a 200 day moving average of $242.35. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

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.