Mizuho Cuts Coinbase Global (NASDAQ:COIN) Price Target to $280.00

Coinbase Global (NASDAQ:COIN) had its price target reduced by Mizuho from $290.00 to $280.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

COIN has been the topic of a number of other research reports. JMP Securities boosted their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Finally, Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $306.17.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $235.38 on Thursday. The company has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The company’s 50-day moving average price is $275.76 and its 200-day moving average price is $240.11. 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 (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. On average, sell-side analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $161,639.80. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 334,306 shares of company stock worth $97,300,651. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $35,000. 68.84% of the stock is owned by hedge funds and other 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.