Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average rating of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $284.06.

A number of research firms have issued reports on COIN. HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th.

Coinbase Global Price Performance

COIN opened at $274.49 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $285.22 and its 200 day simple moving average is $236.89. The firm has a market cap of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61. Coinbase Global has a 1 year low of $125.81 and a 1 year high of $349.75.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 401,798 shares of company stock worth $119,826,444 over the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the business. Banco Santander S.A. raised its holdings in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares in the last quarter. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the third quarter valued at $29,756,000. Lindbrook Capital LLC grew its stake in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $2,908,000. Hedge funds and other 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.