Coinbase Global (NASDAQ:COIN) Price Target Raised to $305.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Keefe, Bruyette & Woods from $255.00 to $305.00 in a report issued on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other equities research analysts have also recently issued reports on COIN. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Monness Crespi & Hardt lifted their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.94.

Coinbase Global Trading Down 3.5 %

Shares of COIN stock opened at $264.63 on Tuesday. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75. 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 moving average price is $279.49 and its 200-day moving average price is $239.21. The stock has a market capitalization of $66.25 billion, a price-to-earnings ratio of 45.16 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Equities research analysts predict that Coinbase Global will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares in the company, valued at approximately $52,972,696.56. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,143 shares of company stock worth $97,842,603. 23.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently made changes to their positions in the company. Banco Santander S.A. grew its stake in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Global Retirement Partners LLC grew its stake in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the third quarter valued at about $29,756,000. Lindbrook Capital LLC grew its stake in Coinbase Global by 30.2% in 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 last quarter. Finally, Wellington Management Group LLP grew its stake in Coinbase Global by 168.2% in 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 last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.