Coinbase Global (NASDAQ:COIN) Now Covered by Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald began coverage on shares of Coinbase Global (NASDAQ:COIN) in a research note issued on Tuesday. The brokerage set an “overweight” rating and a $245.00 price target on the cryptocurrency exchange’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 47.73% from the company’s previous close.

A number of other research firms also recently issued reports on COIN. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Rosenblatt Securities reissued a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a report on Wednesday, March 26th. Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, 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 research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $302.68.

Coinbase Global Trading Up 5.4 %

COIN traded up $8.57 during trading on Tuesday, reaching $165.85. 1,312,363 shares of the company’s stock were exchanged, compared to its average volume of 9,703,787. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $42.11 billion, a PE ratio of 17.47 and a beta of 3.65. The company’s fifty day moving average price is $224.58 and its 200-day moving average price is $243.09.

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

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction 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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,767 shares of company stock valued at $48,326,134 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the fourth quarter valued at $25,000. Copia Wealth Management bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter worth approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.