Compass Point Reaffirms “Sell” Rating for Coinbase Global (NASDAQ:COIN)

Coinbase Global (NASDAQ:COIN)‘s stock had its “sell” rating restated by stock analysts at Compass Point in a note issued to investors on Monday, Marketbeat reports. They presently have a $180.00 price objective on the cryptocurrency exchange’s stock. Compass Point’s target price would suggest a potential downside of 12.68% from the company’s previous close.

COIN has been the topic of a number of other research reports. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Rosenblatt Securities reduced their price objective on Coinbase Global from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Benchmark assumed coverage on Coinbase Global in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $252.00 price objective on the stock. JMP Securities dropped their price objective on Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $289.90.

Coinbase Global Trading Up 0.4 %

NASDAQ:COIN opened at $206.13 on Monday. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $349.75. The firm has a market cap of $52.33 billion, a PE ratio of 21.70 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $189.83 and a 200 day moving average price of $243.36.

Coinbase Global (NASDAQ:COIN) last posted its 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 20.64% and a net margin of 39.34%. Sell-side analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 107,291 shares of the company’s stock, valued at $21,458,200. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. The trade was a 96.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,970 shares of company stock valued at $38,672,615. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Coinbase Global in the fourth quarter valued at $536,484,000. Groupama Asset Managment purchased a new position in Coinbase Global in the 4th quarter valued at about $372,450,000. Proficio Capital Partners LLC grew 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 valued at $103,888,000 after acquiring an additional 417,036 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock worth $101,431,000 after acquiring an additional 333,600 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after purchasing an additional 302,595 shares during the last quarter. 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.