Coinbase Global (NASDAQ:COIN) Given New $475.00 Price Target at JMP Securities

Coinbase Global (NASDAQ:COIN) had its price target boosted by JMP Securities from $400.00 to $475.00 in a research report released on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the cryptocurrency exchange’s stock.

Other analysts have also recently issued reports about the company. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $301.17.

Coinbase Global Stock Down 8.0 %

Coinbase Global stock opened at $274.31 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $280.97 and a two-hundred day moving average of $238.36. The stock has a market capitalization of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 14.81% and a net margin of 29.76%. As a group, research analysts expect that Coinbase Global will post 4.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 328,529 shares of company stock valued at $95,595,712. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the third quarter valued at $409,919,000. Norges Bank acquired a new position in shares of Coinbase Global during the fourth quarter worth about $536,484,000. Groupama Asset Managment acquired a new position in shares of Coinbase Global during the fourth quarter worth about $372,450,000. Proficio Capital Partners LLC lifted its stake in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Hedge funds and other institutional investors 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.