Coinbase Global (NASDAQ:COIN) Given New $400.00 Price Target at JMP Securities

Coinbase Global (NASDAQ:COIN) had its target price reduced by JMP Securities from $475.00 to $400.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the cryptocurrency exchange's stock.

COIN has been the topic of several other research reports. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a report on Friday, February 14th. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Oppenheimer reissued an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. Barclays decreased their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $298.74.

Coinbase Global Stock Up 3.5 %

Shares of Coinbase Global stock traded up $5.88 during midday trading on Tuesday, reaching $175.50. 7,745,585 shares of the company's stock traded hands, compared to its average volume of 9,775,182. 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 52 week low of $142.58 and a 52 week high of $349.75. The company's 50 day simple moving average is $210.02 and its 200 day simple moving average is $241.96. The company has a market cap of $44.56 billion, a price-to-earnings ratio of 18.47 and a beta of 3.65.

Remove Ads

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 for the quarter, beating 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%. Equities analysts expect that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $142,540.74. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management bought a new stake in shares of Coinbase Global during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc bought a new position in Coinbase Global in the fourth quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after purchasing an additional 106 shares during the period. 68.84% of the stock is 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.