Coinbase Global (NASDAQ:COIN) Stock Rating Upgraded by Compass Point

Compass Point upgraded shares of Coinbase Global (NASDAQ:COIN) from a sell rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. They currently have $195.00 target price on the cryptocurrency exchange’s stock.

Several other brokerages have also issued reports on COIN. Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Mizuho cut their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a report on Thursday. Finally, Needham & Company LLC cut their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a report on Monday. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $268.75.

Coinbase Global Stock Performance

Coinbase Global stock opened at $207.22 on Monday. The company has a 50 day moving average price of $187.08 and a 200-day moving average price of $243.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a market capitalization of $52.61 billion, a PE ratio of 21.81 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 earnings per share. As a group, equities analysts forecast that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $105,484.04. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,742 shares of company stock valued at $25,758,259 over the last ninety days. 17.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coinbase Global

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares during the last quarter. Geode Capital Management LLC lifted its position in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares during the period. ARK Investment Management LLC lifted its position in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after purchasing an additional 34,462 shares during the period. Norges Bank acquired a new position in Coinbase Global during the fourth quarter valued at $536,484,000. Finally, Groupama Asset Managment acquired a new position in Coinbase Global during the fourth quarter valued at $372,450,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.