Coinbase Global (NASDAQ:COIN) Given New $255.00 Price Target at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective reduced by Keefe, Bruyette & Woods from $275.00 to $255.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC lifted their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer raised their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. B. Riley started coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $284.17.

Coinbase Global Trading Down 2.9 %

Coinbase Global stock opened at $251.20 on Monday. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $62.89 billion, a price-to-earnings ratio of 42.87 and a beta of 3.59. The company has a 50 day moving average price of $288.55 and a 200 day moving average price of $229.90.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. Research analysts forecast that Coinbase Global will post 4.44 EPS for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,733 shares of company stock valued at $95,173,894 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $409,919,000. Renaissance Technologies LLC raised its stake in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Geode Capital Management LLC lifted its position in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP boosted its stake in Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in Coinbase Global in the 3rd quarter valued at $38,535,000. 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.