Coinbase Global (NASDAQ:COIN) Now Covered by The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a "neutral" rating and a $195.00 price target on the cryptocurrency exchange's stock. The Goldman Sachs Group's target price points to a potential downside of 3.96% from the company's previous close.

COIN has been the subject of a number of other research reports. Bank of America decreased their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Rosenblatt Securities began coverage on shares of Coinbase Global in a research report on Friday, March 7th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $314.72.

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Coinbase Global Stock Up 6.9 %

NASDAQ:COIN traded up $13.18 on Thursday, reaching $203.04. The stock had a trading volume of 9,458,351 shares, compared to its average volume of 9,666,954. The company has a 50-day moving average of $246.30 and a 200 day moving average of $241.82. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $51.55 billion, a P/E ratio of 21.37 and a beta of 3.66. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75.

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

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now directly owns 10,417 shares of the company's stock, valued at $3,126,037.53. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,034 shares of company stock worth $57,835,408 in the last ninety days. 23.43% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the third quarter valued at approximately $25,000. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the 4th quarter valued at $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. Finally, Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter valued at $27,000. 68.84% of the stock is currently owned by institutional investors.

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.