Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $314.72

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $314.72.

COIN has been the subject of a number of recent research reports. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Mizuho cut their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th.

Insider Activity

In related news, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock valued at $61,331,908 in the last ninety days. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after acquiring an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in Coinbase Global during the fourth quarter valued at $252,000. Virtu Financial LLC bought a new stake in Coinbase Global during the third quarter valued at about $3,866,000. Blueshift Asset Management LLC increased its position in Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after buying an additional 16,998 shares in the last quarter. Finally, Savant Capital LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $591,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 2.8 %

Shares of NASDAQ:COIN opened at $188.58 on Tuesday. The firm has a market capitalization of $47.88 billion, a P/E ratio of 19.85 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average price of $241.79 and a 200-day moving average price of $241.51. Coinbase Global has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts anticipate that Coinbase Global will post 7.22 EPS for the current fiscal year.

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.