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

Coinbase Global, Inc. (NASDAQ:COIN) has earned an average rating of "Moderate Buy" from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $314.72.

COIN has been the subject of several recent analyst reports. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Oppenheimer reiterated an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a "neutral" rating and a $195.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, February 14th.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % 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, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,034 shares of company stock worth $57,835,408 in the last 90 days. Corporate insiders own 23.43% of the company's stock.

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Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after acquiring an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $252,000. Virtu Financial LLC acquired a new position in Coinbase Global in the third quarter valued at approximately $3,866,000. Blueshift Asset Management LLC grew its position in Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange's stock worth $3,359,000 after acquiring an additional 16,998 shares during the period. Finally, Savant Capital LLC acquired a new stake in Coinbase Global during the fourth quarter worth $591,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Up 0.6 %

Shares of NASDAQ COIN traded up $1.19 during trading hours on Tuesday, hitting $204.23. 7,851,783 shares of the stock were exchanged, compared to its average volume of 9,646,550. Coinbase Global has a 12 month low of $146.12 and a 12 month high of $349.75. The firm has a fifty day moving average price of $246.30 and a 200-day moving average price of $241.82. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $51.85 billion, a PE ratio of 21.50 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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, sell-side analysts expect that Coinbase Global will post 7.22 EPS for the current year.

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.