Coinbase Global (NASDAQ:COIN) Price Target Cut to $217.00 by Analysts at Mizuho

Coinbase Global (NASDAQ:COIN) had its price target cut by Mizuho from $280.00 to $217.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

COIN has been the subject of a number of other research reports. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. JMP Securities lifted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Bank of America cut their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.89.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $191.69 on Tuesday. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The firm has a market cap of $48.67 billion, a P/E ratio of 20.18 and a beta of 3.66. The company has a 50 day moving average of $259.55 and a 200 day moving average of $241.43. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction 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 in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several hedge funds have recently bought and sold shares of the stock. SOA Wealth Advisors LLC. lifted its stake in Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC raised its position in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC raised its position in shares of Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares in 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.