Barclays Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Barclays from $328.00 to $169.00 in a report issued on Monday,Benzinga reports. Barclays currently has an equal weight rating on the cryptocurrency exchange’s stock.

A number of other brokerages have also recently weighed in on COIN. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group started coverage on Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.89.

Coinbase Global Trading Down 2.0 %

NASDAQ COIN opened at $157.28 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a market capitalization of $39.93 billion, a PE ratio of 16.56 and a beta of 3.65. The stock has a 50-day simple moving average of $224.58 and a 200 day simple moving average of $243.09.

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

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 20,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. The trade was a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,767 shares of company stock worth $45,798,184. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares during the period. Geode Capital Management LLC raised its stake in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after buying an additional 127,075 shares during the period. Norges Bank bought a new stake in Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $372,450,000. Finally, Northern Trust Corp boosted its stake in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after acquiring an additional 218,400 shares during the period. 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.