Coinbase Global (NASDAQ:COIN) Earns Neutral Rating from Analysts at The Goldman Sachs Group

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

COIN has been the subject of a number of other research reports. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Bank of America decreased their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Stock Up 0.3 %

COIN stock opened at $190.38 on Thursday. The stock has a market cap of $48.33 billion, a PE ratio of 20.04 and a beta of 3.66. The firm’s 50-day simple moving average is $248.64 and its 200 day simple moving average is $240.42. Coinbase Global has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced 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 39.34% and a return on equity of 20.64%. As a group, sell-side analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, 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 sold 219,455 shares of company stock worth $60,955,968 in the last quarter. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter worth about $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds 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.