Coinbase Global (NASDAQ:COIN) Rating Increased to Neutral at Compass Point

Coinbase Global (NASDAQ:COIN) was upgraded by Compass Point from a "sell" rating to a "neutral" rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has a $195.00 price objective on the cryptocurrency exchange's stock. Compass Point's price target would suggest a potential downside of 2.24% from the stock's current price.

A number of other research firms also recently commented on COIN. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday. Barclays reiterated an "equal weight" rating on shares of Coinbase Global in a research note on Thursday. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $266.40.

Coinbase Global Stock Performance

Shares of COIN stock opened at $199.47 on Monday. Coinbase Global has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a fifty day moving average price of $187.38 and a 200 day moving average price of $243.30. The stock has a market cap of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) 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 company had revenue of $2.03 billion during 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 firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 earnings per share. Sell-side analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,742 shares of company stock valued at $32,639,759. 17.65% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter worth $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $372,450,000. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after buying an additional 417,036 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after acquiring an additional 333,600 shares in the last quarter. 68.84% of the stock is currently 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.

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