Coinbase Global (NASDAQ:COIN) Receives "Buy" Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Coinbase Global (NASDAQ:COIN) in a research note published on Friday morning,Benzinga reports. HC Wainwright currently has a $350.00 price objective on the cryptocurrency exchange's stock.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday. Monness Crespi & Hardt raised their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Oppenheimer cut their target price on Coinbase Global from $358.00 to $334.00 and set an "outperform" rating on the stock in a research report on Friday, January 17th. Finally, Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.50.

Coinbase Global Stock Down 8.3 %

Shares of COIN traded down $21.21 during midday trading on Friday, hitting $235.38. The company had a trading volume of 17,128,111 shares, compared to its average volume of 8,810,530. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a market capitalization of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61. The company's 50-day simple moving average is $275.76 and its 200-day simple moving average is $239.79.

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

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total value of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares in the company, valued at $52,972,696.56. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred 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 completion of the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,306 shares of company stock worth $97,300,651. 23.43% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

Institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 106 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $35,000. 68.84% of the stock is currently owned by hedge funds and other 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.