Coinbase Global (NASDAQ:COIN) Price Target Lowered to $255.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective lowered by Keefe, Bruyette & Woods from $275.00 to $255.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other brokerages have also recently weighed in on COIN. Needham & Company LLC upped their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $284.17.

Coinbase Global Price Performance

Shares of COIN stock opened at $251.20 on Monday. The stock’s fifty day simple moving average is $288.55 and its 200 day simple moving average is $229.90. Coinbase Global has a one year low of $114.51 and a one year high of $349.75. The firm has a market cap of $62.89 billion, a price-to-earnings ratio of 42.87 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 (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, analysts expect that Coinbase Global will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $281.94, for a total value of $6,440,073.48. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,936,968.98. This trade represents a 68.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,733 shares of company stock valued at $95,173,894. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Empowered Funds LLC increased its position in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after acquiring an additional 51 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in shares of Coinbase Global by 3.9% during the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $314,000 after purchasing an additional 66 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

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.