Coinbase Global (NASDAQ:COIN) Given New $280.00 Price Target at Mizuho

Coinbase Global (NASDAQ:COIN) had its price target decreased by Mizuho from $290.00 to $280.00 in a research note issued to investors on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the cryptocurrency exchange's stock.

COIN has been the subject of a number of other research reports. JMP Securities lifted their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Needham & Company LLC restated a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Bank of America boosted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Oppenheimer decreased their price target on Coinbase Global from $358.00 to $334.00 and set an "outperform" rating for the company in a research note on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $304.50.

Coinbase Global Stock Down 8.3 %

Shares of COIN traded down $21.21 on Thursday, reaching $235.38. The stock had a trading volume of 17,094,420 shares, compared to its average volume of 8,808,676. The company has a 50-day simple moving average of $277.26 and a 200-day simple moving average of $239.47. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75. 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 (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. Sell-side analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the transaction, the director now owns 10,417 shares of the company's stock, valued at $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the transaction, the insider now directly owns 79,407 shares of the company's stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 334,306 shares of company stock valued at $97,300,651. Company insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the company. Banco Santander S.A. lifted its position in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock worth $26,531,000 after buying an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global during the third quarter valued at approximately $29,756,000. Lindbrook Capital LLC raised its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Wellington Management Group LLP raised its position in Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange's stock valued at $5,834,000 after buying an additional 23,040 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

About Coinbase Global

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.