Coinbase Global (NASDAQ:COIN) Given New $400.00 Price Target at JMP Securities

Coinbase Global (NASDAQ:COIN) had its price objective dropped by stock analysts at JMP Securities from $475.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market outperform” rating on the cryptocurrency exchange’s stock. JMP Securities’ price target indicates a potential upside of 125.87% from the stock’s previous close.

Several other research analysts have also commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $305.00 price target on shares of Coinbase Global in a report on Wednesday, March 26th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective 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, Bank of America cut their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.74.

Coinbase Global Stock Up 16.9 %

NASDAQ:COIN opened at $177.09 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50-day simple moving average of $214.42 and a 200 day simple moving average of $241.91. Coinbase Global has a one year low of $142.58 and a one year high of $349.75. The company has a market capitalization of $44.96 billion, a price-to-earnings ratio of 18.64 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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 predict that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.00, for a total value of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares of the company’s stock, valued at approximately $37,341,000. This represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COIN. Norges Bank acquired a new position in Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the fourth quarter worth $372,450,000. Proficio Capital Partners LLC boosted its position in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the period. Two Sigma Advisers LP raised its position in Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after buying an additional 333,600 shares during the period. Finally, Geode Capital Management LLC raised its position in 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 valued at $609,789,000 after buying an additional 314,388 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.