The Goldman Sachs Group Trims Coinbase Global (NASDAQ:COIN) Target Price to $255.00

Coinbase Global (NASDAQ:COIN) had its price objective trimmed by The Goldman Sachs Group from $295.00 to $255.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the cryptocurrency exchange’s stock.

Several other brokerages have also recently weighed in on COIN. Bank of America upped their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a research report on Wednesday, April 10th. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a research report on Tuesday, March 12th. JMP Securities reaffirmed a market outperform rating on shares of Coinbase Global in a research report on Friday, March 22nd. Canaccord Genuity Group lifted their target price on Coinbase Global from $240.00 to $280.00 and gave the company a buy rating in a research note on Friday. Finally, Citigroup increased their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a neutral rating in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $192.60.

Coinbase Global Stock Down 2.4 %

Shares of NASDAQ:COIN opened at $223.25 on Friday. The business’s 50 day moving average is $236.37 and its 200 day moving average is $167.06. The stock has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. Coinbase Global has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.46) EPS. Sell-side analysts predict that Coinbase Global will post 2.71 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total transaction of $322,500.00. Following the completion of the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at approximately $45,977,965. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total value of $322,500.00. Following the transaction, the chief operating officer now owns 213,851 shares of the company’s stock, valued at approximately $45,977,965. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last quarter. 33.16% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Coinbase Global by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after acquiring an additional 408,046 shares during the period. Morgan Stanley increased its holdings in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares in the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter valued at $202,936,000. Northern Trust Corp boosted its holdings in Coinbase Global by 4.3% during the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after buying an additional 37,019 shares in the last quarter. Finally, a16z Perennial Management L.P. acquired a new stake in Coinbase Global during the fourth quarter valued at $147,646,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.