Sanford C. Bernstein upgraded shares of Coinbase Global (NASDAQ:COIN) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.
Several other brokerages also recently issued reports on COIN. Needham & Company LLC reissued a "buy" rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Oppenheimer restated an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, HC Wainwright reissued a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Coinbase Global has an average rating of "Moderate Buy" and a consensus target price of $314.72.
Read Our Latest Stock Report on Coinbase Global
Coinbase Global Stock Performance
NASDAQ COIN traded up $13.18 on Tuesday, reaching $203.04. 9,458,351 shares of the stock were exchanged, compared to its average volume of 9,666,954. 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 one year low of $146.12 and a one year high of $349.75. The firm has a market capitalization of $51.55 billion, a PE ratio of 21.37 and a beta of 3.66. The company's 50-day simple moving average is $246.30 and its two-hundred day simple moving average is $241.82.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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 net margin of 39.34% and a return on equity of 20.64%. Analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company's stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,034 shares of company stock valued at $57,835,408 over the last three months. 23.43% of the stock is owned by company insiders.
Institutional Trading of Coinbase Global
Several institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the 3rd quarter worth about $25,000. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter worth approximately $27,000. Finally, Atala Financial Inc purchased a new position in Coinbase Global during the 4th quarter worth $27,000. 68.84% of the stock is currently owned by institutional investors.
About Coinbase Global
(
Get Free Report)
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.
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