Coinbase Global, Inc. (NASDAQ:COIN) Given Average Rating of “Hold” by Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus rating of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $251.00.

Several research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Mizuho raised their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. Barclays increased their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company.

Coinbase Global Stock Down 0.3 %

Shares of COIN opened at $324.57 on Wednesday. Coinbase Global has a fifty-two week low of $100.01 and a fifty-two week high of $334.86. The company’s fifty day moving average is $205.45 and its two-hundred day moving average is $213.30. The firm has a market cap of $81.26 billion, a PE ratio of 55.39 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Analysts forecast that Coinbase Global will post 4.27 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock worth $30,921,194 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC raised its position in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC raised its holdings in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Coinbase Global during the second quarter valued at approximately $2,908,000. Finally, QRG Capital Management Inc. boosted its holdings in Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.