Coinbase Global (NASDAQ:COIN) Given New $295.00 Price Target at HC Wainwright

Coinbase Global (NASDAQ:COIN) had its price objective lowered by HC Wainwright from $315.00 to $295.00 in a research report released on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the cryptocurrency exchange’s stock.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a buy rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Friday, July 19th. Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a buy rating in a report on Friday, May 3rd. Citigroup raised shares of Coinbase Global from a neutral rating to a buy rating and upped their target price for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Barclays dropped their price target on shares of Coinbase Global from $204.00 to $196.00 and set an underweight rating for the company in a research report on Wednesday, July 10th. Finally, Mizuho upped their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an underperform rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $248.38.

Coinbase Global Price Performance

Shares of COIN traded up $3.83 during trading hours on Friday, hitting $193.30. 5,471,251 shares of the stock were exchanged, compared to its average volume of 11,268,555. Coinbase Global has a 12-month low of $69.63 and a 12-month high of $283.48. The company has a market cap of $47.47 billion, a price-to-earnings ratio of 38.81 and a beta of 3.40. The stock’s 50-day moving average price is $233.56 and its two-hundred day moving average price is $215.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) EPS. Research analysts expect that Coinbase Global will post 4.95 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total value of $369,240.00. Following the sale, the chief operating officer now directly owns 207,471 shares in the company, valued at approximately $51,071,061.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the transaction, the chief operating officer now owns 207,471 shares in the company, valued at $51,071,061.36. The disclosure for this sale can be found here. Insiders sold 258,601 shares of company stock valued at $56,091,678 in the last three months. 23.43% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Norges Bank acquired a new position in Coinbase Global in the 4th quarter valued at about $202,936,000. a16z Perennial Management L.P. acquired a new position in Coinbase Global in the 4th quarter valued at about $147,646,000. Hamilton Lane Advisors LLC purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $88,015,000. Finally, Canada Pension Plan Investment Board lifted its position in Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the period. 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.