Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Recommendation of “Hold” from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $242.82.

COIN has been the subject of a number of research analyst reports. Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Barclays upped their price target on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Bank of America decreased their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, HC Wainwright dropped their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at $12,750,015.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the transaction, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,187 shares of company stock valued at $13,158,294 in the last ninety days. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Coinbase Global Stock Down 2.0 %

Shares of COIN stock opened at $205.04 on Friday. Coinbase Global has a 52-week low of $70.42 and a 52-week high of $283.48. The stock has a market cap of $50.35 billion, a price-to-earnings ratio of 40.93 and a beta of 3.35. The firm’s 50-day moving average is $181.15 and its 200-day moving average is $210.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned ($0.42) EPS. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global will post 3.92 EPS for the current 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.