Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $314.72.

Several research analysts have commented on COIN shares. HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,114,162.15. This trade represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at about $25,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $25,000. Copia Wealth Management purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Finally, Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 7.8 %

Shares of COIN opened at $173.93 on Tuesday. The business’s 50 day simple moving average is $239.36 and its 200-day simple moving average is $242.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts expect that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

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.