Coinbase Global (NASDAQ:COIN) Price Target Cut to $280.00 by Analysts at Mizuho

Coinbase Global (NASDAQ:COIN) had its price target decreased by Mizuho from $290.00 to $280.00 in a report published on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the cryptocurrency exchange’s stock.

A number of other equities analysts also recently issued reports on COIN. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Monness Crespi & Hardt increased their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $303.39.

Coinbase Global Stock Performance

Shares of COIN stock opened at $256.59 on Thursday. The stock has a fifty day moving average of $277.26 and a 200 day moving average of $239.47. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The firm has a market capitalization of $64.24 billion, a price-to-earnings ratio of 27.01 and a beta of 3.61. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts expect that Coinbase Global will post 6.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. This trade represents a 71.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 334,306 shares of company stock worth $97,300,651. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the company. Cache Advisors LLC bought a new position in Coinbase Global in the fourth quarter worth approximately $1,587,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Coinbase Global in the fourth quarter worth $928,000. Sunbelt Securities Inc. increased its stake in shares of Coinbase Global by 14.9% in the fourth quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock worth $204,000 after purchasing an additional 104 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth $640,000. Finally, Vise Technologies Inc. increased its stake in shares of Coinbase Global by 56.1% in the fourth quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock worth $976,000 after purchasing an additional 1,413 shares in the last quarter. 68.84% of the stock is currently 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.