Equities research analysts at Benchmark assumed coverage on shares of Coinbase Global (NASDAQ:COIN) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $252.00 price target on the cryptocurrency exchange's stock. Benchmark's target price would suggest a potential upside of 20.21% from the company's current price.
COIN has been the subject of a number of other reports. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Barclays lowered their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods upped their price target on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of "Moderate Buy" and an average price target of $295.65.
Get Our Latest Stock Report on Coinbase Global
Coinbase Global Price Performance
NASDAQ:COIN traded up $5.77 on Wednesday, reaching $209.64. The stock had a trading volume of 8,046,856 shares, compared to its average volume of 9,718,514. The company has a market capitalization of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65. The stock has a fifty day moving average price of $191.91 and a 200-day moving average price of $242.87. 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 has a 1-year low of $142.58 and a 1-year high of $349.75.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts forecast that Coinbase Global will post 7.22 EPS for the current year.
Insider Buying and Selling at Coinbase Global
In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $142,540.74. This trade represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,970 shares of company stock valued at $38,672,615. Corporate insiders own 23.43% of the company's stock.
Hedge Funds Weigh In On Coinbase Global
Several institutional investors have recently modified their holdings of COIN. Virtu Financial LLC bought a new position in Coinbase Global in the third quarter valued at approximately $3,866,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Coinbase Global during the third quarter worth $94,000. Principal Financial Group Inc. lifted its position in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Versant Capital Management Inc lifted its position in Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock valued at $74,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Coinbase Global by 25.9% in the 4th quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock worth $258,000 after purchasing an additional 214 shares during the period. Institutional investors own 68.84% of the company's stock.
About Coinbase Global
(
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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.
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