Coinbase Global (NASDAQ:COIN) Coverage Initiated at Argus

Equities research analysts at Argus started coverage on shares of Coinbase Global (NASDAQ:COIN) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $400.00 price target on the cryptocurrency exchange's stock. Argus' price target would indicate a potential upside of 1.55% from the company's previous close.

A number of other equities research analysts have also recently commented on COIN. Jefferies Financial Group reaffirmed a "hold" rating and issued a $260.00 target price (up from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. William Blair initiated coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating on the stock. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target on the stock in a research note on Monday, May 12th. Oppenheimer reiterated an "outperform" rating and set a $395.00 price target (up from $293.00) on shares of Coinbase Global in a research note on Thursday, June 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $300.00 price target on shares of Coinbase Global in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $303.01.

Coinbase Global Price Performance

Shares of COIN opened at $393.90 on Monday. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $397.59. The stock has a market cap of $100.00 billion, a PE ratio of 73.44, a price-to-earnings-growth ratio of 29.42 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a fifty day moving average price of $282.06 and a 200 day moving average price of $246.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm earned $2.53 earnings per share. Coinbase Global's revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares in the company, valued at $35,071,233.20. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 670,915 shares of company stock valued at $219,399,582. Corporate insiders own 17.65% of the company's stock.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after purchasing an additional 40 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Coinbase Global by 4.2% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange's stock valued at $356,000 after acquiring an additional 41 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Coinbase Global by 1.6% in the second quarter. Pallas Capital Advisors LLC now owns 2,662 shares of the cryptocurrency exchange's stock valued at $933,000 after acquiring an additional 41 shares during the last quarter. IPG Investment Advisors LLC lifted its stake in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after buying an additional 45 shares during the last quarter. Finally, Clare Market Investments LLC increased its position in Coinbase Global by 1.8% during the second quarter. Clare Market Investments LLC now owns 2,552 shares of the cryptocurrency exchange's stock worth $894,000 after acquiring an additional 45 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.