Coinbase Global's (COIN) "Sell" Rating Reaffirmed at HC Wainwright

Coinbase Global (NASDAQ:COIN)'s stock had its "sell" rating reaffirmed by analysts at HC Wainwright in a report issued on Thursday, MarketBeat.com reports. They currently have a $300.00 price target on the cryptocurrency exchange's stock, down from their prior price target of $305.00. HC Wainwright's price target points to a potential downside of 22.87% from the company's current price.

A number of other equities research analysts have also commented on the company. Rosenblatt Securities restated a "buy" rating and set a $300.00 price target on shares of Coinbase Global in a research report on Monday, June 16th. Cantor Fitzgerald assumed coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price for the company. Needham & Company LLC lowered their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Sanford C. Bernstein upped their target price on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Finally, Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $298.60.

Coinbase Global Stock Performance

Coinbase Global stock traded up $15.11 on Thursday, reaching $388.96. 17,059,722 shares of the stock were exchanged, compared to its average volume of 10,877,834. The stock has a market cap of $98.75 billion, a PE ratio of 53.26, a PEG ratio of 27.35 and a beta of 3.70. The firm has a fifty day moving average price of $274.66 and a two-hundred day moving average price of $244.97. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $396.71.

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

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,915 shares of company stock valued at $222,081,432 over the last ninety days. Insiders own 17.65% of the company's stock.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Jones Financial Companies Lllp raised its position in shares of Coinbase Global by 125.8% during the fourth quarter. Jones Financial Companies Lllp now owns 490 shares of the cryptocurrency exchange's stock worth $122,000 after acquiring an additional 273 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 23.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock valued at $418,000 after buying an additional 325 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Coinbase Global by 10.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,091 shares of the cryptocurrency exchange's stock worth $3,747,000 after purchasing an additional 1,469 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Coinbase Global by 8.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,704 shares of the cryptocurrency exchange's stock worth $3,900,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in Coinbase Global by 31.9% in the 4th quarter. Independent Advisor Alliance now owns 7,488 shares of the cryptocurrency exchange's stock valued at $1,859,000 after buying an additional 1,813 shares during the last quarter. 68.84% of the stock is currently owned by 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.