Barclays Lowers Coinbase Global (NASDAQ:COIN) Price Target to $169.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Barclays from $328.00 to $169.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the cryptocurrency exchange's stock. Barclays's target price suggests a potential downside of 4.54% from the stock's previous close.

A number of other brokerages have also recently weighed in on COIN. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group boosted 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. Mizuho dropped their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group initiated coverage on Coinbase Global in a research note on Thursday, March 20th. They set a "neutral" rating and a $195.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $298.74.

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Coinbase Global Trading Up 4.4 %

Shares of Coinbase Global stock traded up $7.42 during mid-day trading on Monday, hitting $177.04. The stock had a trading volume of 4,330,215 shares, compared to its average volume of 9,759,063. The firm has a market cap of $44.95 billion, a P/E ratio of 18.53 and a beta of 3.65. 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 firm has a 50-day moving average of $212.12 and a two-hundred day moving average of $241.90. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $349.75.

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

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $3,126,037.53. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 182,767 shares of company stock worth $48,326,134. Company insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Vanguard Group Inc. grew its stake in Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the period. Geode Capital Management LLC raised its stake in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after purchasing an additional 127,075 shares during the period. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter valued at $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global in the fourth quarter valued at $372,450,000. Finally, Northern Trust Corp grew its holdings in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock worth $321,488,000 after purchasing an additional 218,400 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.