Barclays Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Barclays from $328.00 to $169.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the cryptocurrency exchange’s stock.

COIN has been the topic of several other research reports. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Canaccord Genuity Group boosted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.74.

Coinbase Global Trading Up 16.9 %

COIN opened at $177.09 on Monday. 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’s 50 day simple moving average is $214.42 and its two-hundred day simple moving average is $241.91. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $349.75. The firm has a market capitalization of $44.96 billion, a price-to-earnings ratio of 18.64 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at $22,973,200. The trade was a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $88,646.78. This trade represents a 96.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,767 shares of company stock worth $48,326,134. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in COIN. The Manufacturers Life Insurance Company raised its holdings in shares of Coinbase Global by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock valued at $1,854,000 after buying an additional 186 shares during the last quarter. Janus Henderson Group PLC grew its position in Coinbase Global by 36.8% during the third quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange’s stock worth $2,767,000 after buying an additional 4,177 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Coinbase Global during the third quarter worth about $450,000. Quantinno Capital Management LP grew its position in shares of Coinbase Global by 5.6% in the third quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock valued at $659,000 after purchasing an additional 195 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Coinbase Global by 45.4% in the third quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange’s stock valued at $7,753,000 after purchasing an additional 13,591 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other 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.