The Goldman Sachs Group Lowers Coinbase Global (NASDAQ:COIN) Price Target to $255.00

Coinbase Global (NASDAQ:COIN) had its price target trimmed by The Goldman Sachs Group from $295.00 to $255.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the cryptocurrency exchange's stock.

Other analysts have also recently issued reports about the stock. HC Wainwright increased their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday. Barclays lifted their price target on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an underweight rating in a research report on Monday, April 8th. Bank of America increased their target price on Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Raymond James upgraded Coinbase Global from an underperform rating to a market perform rating in a research report on Tuesday, March 12th. Finally, JMP Securities reiterated a market outperform rating on shares of Coinbase Global in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $185.48.

Coinbase Global Stock Performance

NASDAQ COIN traded down $5.60 during trading on Friday, hitting $223.25. The company's stock had a trading volume of 13,520,069 shares, compared to its average volume of 13,332,489. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The firm has a market cap of $54.09 billion, a P/E ratio of 826.85 and a beta of 3.46. The firm has a 50 day moving average price of $235.22 and a 200 day moving average price of $164.76. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. Coinbase Global's revenue was up 51.6% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares of the company's stock, valued at $558,181.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the transaction, the chief operating officer now directly owns 213,851 shares in the company, valued at approximately $45,977,965. The disclosure for this sale can be found here. In the last quarter, insiders have sold 420,597 shares of company stock worth $86,053,862. Corporate insiders own 33.16% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Coinbase Global by 5.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange's stock valued at $2,515,000 after acquiring an additional 1,800 shares during the last quarter. Xponance Inc. lifted its stake in Coinbase Global by 5.6% in the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange's stock valued at $470,000 after purchasing an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange's stock worth $282,000 after purchasing an additional 125 shares during the period. Brown Advisory Inc. raised its holdings in Coinbase Global by 84.0% in the 3rd quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange's stock valued at $687,000 after acquiring an additional 4,175 shares during the period. Finally, AM Investment Strategies LLC acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $629,000. Institutional investors and hedge funds own 68.84% of the company's stock.

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.