Coinbase Global (NASDAQ:COIN) PT Lowered to $260.00

Coinbase Global (NASDAQ:COIN) had its price target trimmed by Needham & Company LLC from $275.00 to $260.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other analysts also recently issued reports on the company. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a report on Tuesday, March 12th. Oppenheimer increased their price target on shares of Coinbase Global from $200.00 to $276.00 and gave the company an outperform rating in a research note on Thursday, April 4th. The Goldman Sachs Group upgraded shares of Coinbase Global from a sell rating to a neutral rating in a research note on Friday, March 8th. Citigroup raised their price objective on Coinbase Global from $90.00 to $151.00 and gave the stock a neutral rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a neutral rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of Hold and an average target price of $185.48.

Coinbase Global Stock Down 2.4 %

Shares of Coinbase Global stock traded down $5.60 on Friday, reaching $223.25. 13,739,132 shares of the company were exchanged, compared to its average volume of 9,158,455. The stock’s 50 day moving average price is $236.37 and its 200-day moving average price is $165.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the business posted ($2.46) EPS. The firm’s revenue was up 51.6% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global will post 2.71 EPS for the current year.

Insider Activity at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the sale, the director now owns 4,833 shares in the company, valued at $1,256,580. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the sale, the director now directly owns 4,833 shares in the company, valued at approximately $1,256,580. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders sold a total of 420,597 shares of company stock worth $86,053,862 over the last 90 days. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Team Hewins LLC acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $202,000. RIA Advisory Group LLC acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $299,000. Larson Financial Group LLC raised its position in shares of Coinbase Global by 34.8% during the 1st quarter. Larson Financial Group LLC now owns 473 shares of the cryptocurrency exchange’s stock worth $125,000 after purchasing an additional 122 shares during the last quarter. Finally, Callan Capital LLC purchased a new stake in Coinbase Global in the 1st quarter worth approximately $204,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.