Coinbase Global (NASDAQ:COIN) Given New $400.00 Price Target at Canaccord Genuity Group

Coinbase Global (NASDAQ:COIN) had its price target increased by Canaccord Genuity Group from $280.00 to $400.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Several other equities analysts have also recently issued reports on COIN. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays boosted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, HC Wainwright boosted their price objective on shares of Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.17.

Coinbase Global Stock Down 8.0 %

Shares of NASDAQ:COIN opened at $274.31 on Friday. The company has a market capitalization of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The firm has a 50 day simple moving average of $280.97 and a 200-day simple moving average of $238.16.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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 net margin of 29.76% and a return on equity of 14.81%. On average, equities analysts predict that Coinbase Global will post 4.81 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at $52,972,696.56. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 386,798 shares of company stock worth $114,707,944 in the last three months. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 0.7% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its stake in Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after purchasing an additional 127,075 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the 3rd quarter worth about $409,919,000. Finally, Norges Bank acquired a new position in Coinbase Global in the 4th quarter valued at approximately $536,484,000. 68.84% of the stock is currently owned by institutional investors.

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.