Jefferies Financial Group Reaffirms Hold Rating for Coinbase Global (NASDAQ:COIN)

Jefferies Financial Group reissued their hold rating on shares of Coinbase Global (NASDAQ:COIN) in a research report sent to investors on Tuesday, Marketbeat reports. They currently have a $260.00 price target on the cryptocurrency exchange's stock, up from their previous price target of $210.00.

Several other analysts also recently weighed in on the company. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Needham & Company LLC cut their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Oppenheimer set a $293.00 price target on Coinbase Global in a research note on Thursday, May 15th. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, May 9th. Finally, Citigroup restated a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.10.

Coinbase Global Trading Down 1.1%

NASDAQ:COIN traded down $2.72 during mid-day trading on Tuesday, reaching $246.12. 6,028,897 shares of the company's stock traded hands, compared to its average volume of 10,170,804. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $349.75. The firm has a market capitalization of $62.48 billion, a price-to-earnings ratio of 25.91 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50 day moving average price of $205.62 and a 200-day moving average price of $245.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.53 earnings per share. On average, sell-side analysts predict that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity

In other news, insider Paul Grewal sold 12,931 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the transaction, the insider now directly owns 84,280 shares of the company's stock, valued at $22,527,201.20. This represents a 13.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 170,717 shares of company stock valued at $36,801,351 in the last ninety days. 17.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the stock. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the 4th quarter worth $25,000. Copia Wealth Management bought a new position in Coinbase Global in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter worth $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Coinbase Global in the 4th quarter worth $35,000. 68.84% of the stock is 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.