Coinbase Global (NASDAQ:COIN) Price Target Lowered to $311.00 at Bank of America

Coinbase Global (NASDAQ:COIN) had its target price reduced by Bank of America from $363.00 to $311.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

Several other brokerages also recently weighed in on COIN. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Mizuho dropped their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Piper Sandler boosted their price objective 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. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Trading Down 2.2 %

NASDAQ:COIN opened at $208.37 on Tuesday. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $269.37 and a 200 day moving average of $240.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,069 shares of company stock valued at $66,488,684. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $35,000. 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.