Coinbase Global (NASDAQ:COIN) PT Lowered to $255.00

Coinbase Global (NASDAQ:COIN) had its target price reduced by The Goldman Sachs Group from $295.00 to $255.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the cryptocurrency exchange’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 14.22% from the stock’s previous close.

COIN has been the topic of a number of other reports. Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer lifted their price target on Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Barclays upped their price objective on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Finally, Mizuho increased their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $185.48.

Coinbase Global Stock Performance

NASDAQ COIN opened at $223.25 on Friday. The company has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $236.37 and a two-hundred day moving average price of $165.79. Coinbase Global has a 12-month low of $46.43 and a 12-month high of $283.48.

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

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $558,181.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the transaction, the director now directly owns 4,833 shares in the company, valued at approximately $1,256,580. The disclosure for this sale can be found here. Insiders sold a total of 420,597 shares of company stock valued at $86,053,862 in the last quarter. 33.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in shares of Coinbase Global in the first quarter worth $32,000. Barrett & Company Inc. purchased a new position in shares of Coinbase Global in the fourth quarter valued at $26,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.