Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $289.06

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $289.06.

Several equities analysts have issued reports on COIN shares. Monness Crespi & Hardt boosted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Oppenheimer reduced their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th.

Coinbase Global Trading Down 1.9 %

NASDAQ:COIN opened at $275.14 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $286.47 and its 200-day simple moving average is $236.59. Coinbase Global has a 12-month low of $114.51 and a 12-month high of $349.75. The firm has a market cap of $68.88 billion, a P/E ratio of 46.95 and a beta of 3.61.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the firm’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 transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the sale, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at $52,972,696.56. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,570 shares of company stock valued at $115,554,837 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coinbase Global by 365.5% during 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 last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in 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.