The Goldman Sachs Group Begins Coverage on Coinbase Global (NASDAQ:COIN)

Analysts at The Goldman Sachs Group began coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report issued on Thursday. The brokerage set a “neutral” rating and a $195.00 price target on the cryptocurrency exchange’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 1.31% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research report on Friday, March 7th. They set a “buy” rating and a $305.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded up $2.72 during mid-day trading on Thursday, hitting $192.47. 991,174 shares of the stock were exchanged, compared to its average volume of 9,246,246. The company has a market cap of $48.86 billion, a P/E ratio of 20.22 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The stock’s fifty day simple moving average is $250.03 and its two-hundred day simple moving average is $240.77.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. SOA Wealth Advisors LLC. grew its stake in shares of Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after purchasing an additional 40 shares during the period. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after purchasing an additional 44 shares during the period. Finally, Capital Advisors Wealth Management LLC boosted its stake in shares of Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the period. 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.