Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus rating of "Moderate Buy" from the twenty research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $297.95.

COIN has been the topic of a number of recent analyst reports. 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. HC Wainwright restated a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Barclays dropped their target price on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Finally, Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th.

Coinbase Global Trading Up 1.6 %

Shares of Coinbase Global stock traded up $2.82 during trading hours on Friday, reaching $175.03. 5,118,506 shares of the company's stock were exchanged, compared to its average volume of 9,681,718. The firm has a market capitalization of $44.44 billion, a price-to-earnings ratio of 18.42 and a beta of 3.65. 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 has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a fifty day moving average of $200.17 and a 200-day moving average of $241.93.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. Sell-side analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $178.79, for a total value of $2,681,850.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $94,043.54. The trade was a 96.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,805 shares of company stock valued at $41,907,752. Insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Coinbase Global during the 4th quarter worth about $536,484,000. Groupama Asset Managment bought a new stake in Coinbase Global during the fourth quarter worth approximately $372,450,000. Proficio Capital Partners LLC lifted its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares during the period. Two Sigma Advisers LP boosted its stake in Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after purchasing an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after buying an additional 302,595 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.