Mizuho Lowers Coinbase Global (NASDAQ:COIN) Price Target to $280.00

Coinbase Global (NASDAQ:COIN) had its target price decreased by equities research analysts at Mizuho from $290.00 to $280.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s price objective would suggest a potential upside of 10.71% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays upped their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $303.39.

Coinbase Global Price Performance

COIN traded down $5.77 during trading on Thursday, reaching $252.90. 2,870,731 shares of the stock were exchanged, compared to its average volume of 8,445,759. 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 market capitalization of $63.31 billion, a price-to-earnings ratio of 26.63 and a beta of 3.61. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The business’s 50 day moving average price is $278.39 and its two-hundred day moving average price is $239.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Coinbase Global will post 6.51 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the transaction, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at approximately $52,972,696.56. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 336,143 shares of company stock worth $97,842,603. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares in the last quarter. Geode Capital Management LLC increased its position in Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after buying an additional 127,075 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares during the period. Clear Street Derivatives LLC bought a new position in Coinbase Global during the 3rd quarter worth $409,919,000. Finally, Norges Bank bought a new position in Coinbase Global during the 4th quarter worth $536,484,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.