Coinbase Global, Inc. (NASDAQ:COIN) Given Average Rating of “Hold” by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been given a consensus recommendation of “Hold” by the twenty brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $288.44.

COIN has been the topic of several research reports. Monness Crespi & Hardt boosted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $181.36, for a total transaction of $272,040.00. Following the transaction, the chief operating officer now owns 176,601 shares in the company, valued at approximately $32,028,357.36. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. This trade represents a 68.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 328,483 shares of company stock valued at $96,470,997. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in Coinbase Global in the third quarter valued at about $32,000. Abich Financial Wealth Management LLC raised its holdings in Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Coinbase Global by 233.7% in the 2nd quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 1.6 %

COIN stock opened at $260.01 on Thursday. The company has a market capitalization of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $349.75. The business has a 50 day simple moving average of $284.12 and a two-hundred day simple moving average of $229.01.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. Research analysts anticipate that Coinbase Global will post 4.44 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.