Coinbase Global (NASDAQ:COIN) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued a neutral rating and a $195.00 price target on the cryptocurrency exchange’s stock.

Other analysts also recently issued reports about the company. Mizuho reduced their price target 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. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $189.86 on Thursday. 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 $146.12 and a 12 month high of $349.75. The stock has a 50 day moving average of $247.26 and a 200-day moving average of $240.97. The company has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This trade represents a 33.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the business. Copia Wealth Management acquired a new stake in Coinbase Global during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $25,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.