Coinbase Global (NASDAQ:COIN) PT Raised to $175.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price target increased by Barclays from $169.00 to $175.00 in a research report sent to investors on Monday, Benzinga reports. Barclays currently has an equal weight rating on the cryptocurrency exchange’s stock.

A number of other brokerages also recently weighed in on COIN. HC Wainwright cut their price target on shares of Coinbase Global from $315.00 to $295.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group reiterated a buy rating and set a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $255.00 to $215.00 and set a neutral rating on the stock in a report on Thursday, July 11th. JMP Securities reissued a market outperform rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Citigroup raised shares of Coinbase Global from a neutral rating to a buy rating and boosted their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $246.44.

Coinbase Global Price Performance

COIN opened at $164.27 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day simple moving average is $179.19 and its 200-day simple moving average is $214.32. Coinbase Global has a one year low of $70.42 and a one year high of $283.48. The stock has a market capitalization of $40.34 billion, a P/E ratio of 32.79 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) earnings per share. Sell-side analysts anticipate that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,037 shares of company stock worth $15,512,370 in the last ninety days. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Hedge funds have recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in shares of Coinbase Global in the 4th quarter worth about $828,000. Evercore Wealth Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $444,000. Elo Mutual Pension Insurance Co grew its stake in shares of Coinbase Global by 6.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,925 shares of the cryptocurrency exchange’s stock valued at $2,596,000 after buying an additional 848 shares during the period. Regal Investment Advisors LLC acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $681,000. Finally, Cresset Asset Management LLC raised its stake in shares of Coinbase Global by 4.0% in the fourth quarter. Cresset Asset Management LLC now owns 67,814 shares of the cryptocurrency exchange’s stock worth $11,794,000 after purchasing an additional 2,577 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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.