Coinbase Global, Inc. (NASDAQ:COIN) Given Average Recommendation of “Moderate Buy” by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $314.72.

Several analysts have recently weighed in on COIN shares. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $305.00 price target on shares of Coinbase Global in a research report on Wednesday, March 26th.

Coinbase Global Price Performance

NASDAQ:COIN opened at $172.23 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global has a one year low of $146.12 and a one year high of $349.75. The company has a fifty day moving average price of $236.90 and a 200 day moving average price of $242.89. The stock has a market cap of $43.73 billion, a P/E ratio of 18.13 and a beta of 3.66.

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, 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%. Analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,609 shares of company stock valued at $61,331,908 over the last ninety days. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Wellington Management Group LLP increased its holdings in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the fourth quarter valued at approximately $25,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $15,578,000. Copia Wealth Management bought a new stake in shares of Coinbase Global during the fourth quarter worth $26,000. Finally, IronOak Wealth LLC. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $765,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.