The Goldman Sachs Group Lowers Coinbase Global (NASDAQ:COIN) Price Target to $215.00

Coinbase Global (NASDAQ:COIN) had its price objective lowered by The Goldman Sachs Group from $255.00 to $215.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the cryptocurrency exchange’s stock.

Several other research analysts have also issued reports on COIN. JPMorgan Chase & Co. raised their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a neutral rating in a research report on Friday, March 15th. Singular Research restated a buy rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Barclays reduced their price target on Coinbase Global from $204.00 to $196.00 and set an underweight rating on the stock in a research report on Wednesday. Wedbush raised their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Finally, Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of Hold and an average price target of $212.83.

Coinbase Global Stock Down 2.2 %

NASDAQ COIN opened at $214.63 on Thursday. The firm has a market cap of $52.71 billion, a PE ratio of 42.84 and a beta of 3.40. Coinbase Global has a one year low of $69.63 and a one year high of $283.48. The stock’s 50 day simple moving average is $227.73 and its 200 day simple moving average is $205.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, sell-side analysts forecast that Coinbase Global will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alesia J. Haas sold 4,200 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the transaction, the chief financial officer now owns 192,622 shares in the company, valued at approximately $47,681,649.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Insiders have sold 314,136 shares of company stock valued at $68,855,464 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the stock. Barrett & Company Inc. bought a new position in Coinbase Global during the fourth quarter worth about $26,000. Creekmur Asset Management LLC bought a new position in Coinbase Global during the fourth quarter worth about $27,000. Lynx Investment Advisory bought a new position in Coinbase Global during the second quarter worth about $29,000. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. 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.