Rosenblatt Securities Lowers Coinbase Global (NASDAQ:COIN) Price Target to $290.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Rosenblatt Securities from $305.00 to $290.00 in a research report sent to investors on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the cryptocurrency exchange's stock.

A number of other equities analysts have also weighed in on COIN. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Bank of America dropped their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Oppenheimer reiterated an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $297.95.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $2.82 during trading on Thursday, hitting $175.03. The company's stock had a trading volume of 5,118,506 shares, compared to its average volume of 9,680,447. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 18.42 and a beta of 3.65. The company has a 50-day moving average of $200.17 and a 200-day moving average of $241.39. 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 issued 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 net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts expect that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,114,162.15. The trade was a 70.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the company'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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 166,805 shares of company stock worth $41,907,752 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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