Coinbase Global (NASDAQ:COIN) PT Raised to $175.00

Coinbase Global (NASDAQ:COIN) had its target price lifted by equities researchers at Barclays from $169.00 to $175.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s target price would suggest a potential upside of 4.02% from the stock’s current price.

COIN has been the subject of several other reports. Compass Point dropped their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. HC Wainwright dropped their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Finally, The Goldman Sachs Group decreased their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $246.44.

Coinbase Global Trading Down 1.6 %

Shares of COIN traded down $2.68 during trading hours on Monday, hitting $168.23. 5,321,946 shares of the stock traded hands, compared to its average volume of 10,360,652. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global has a 1-year low of $70.42 and a 1-year high of $283.48. The firm has a market capitalization of $41.31 billion, a PE ratio of 33.52 and a beta of 3.35. The business has a fifty day moving average of $183.75 and a 200-day moving average of $216.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned ($0.42) earnings per share. The firm’s revenue was up 104.8% compared to the same quarter last year. Analysts expect that Coinbase Global will post 3.96 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,112 shares of company stock worth $20,596,024 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Vanguard Group Inc. grew its position in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC increased its stake in shares of Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.