Coinbase Global (NASDAQ:COIN) Upgraded at B. Riley

B. Riley upgraded shares of Coinbase Global (NASDAQ:COIN) to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other research firms have also issued reports on COIN. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Barclays raised their price target on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $242.82.

Coinbase Global Stock Up 5.1 %

COIN opened at $209.16 on Tuesday. The business’s 50-day simple moving average is $180.91 and its 200-day simple moving average is $210.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a one year low of $70.42 and a one year high of $283.48. The stock has a market capitalization of $51.36 billion, a P/E ratio of 41.75 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business earned ($0.42) EPS. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. Analysts anticipate that Coinbase Global will post 3.92 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now owns 194,971 shares of the company’s stock, valued at $45,428,243. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,187 shares of company stock valued at $13,158,294 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global in the 2nd quarter valued at $29,000. Finally, Versant Capital Management Inc raised its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.