Coinbase Global (NASDAQ:COIN) Price Target Raised to $305.00

Coinbase Global (NASDAQ:COIN) had its target price increased by Keefe, Bruyette & Woods from $255.00 to $305.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the cryptocurrency exchange’s stock.

Several other research analysts have also issued reports on the stock. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt raised their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.39.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $256.59 on Tuesday. The firm has a market capitalization of $64.24 billion, a PE ratio of 27.01 and a beta of 3.61. 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 has a 1-year low of $146.12 and a 1-year high of $349.75. The business’s 50 day moving average is $277.26 and its 200-day moving average is $239.47.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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%. Sell-side analysts predict that Coinbase Global will post 6.51 earnings per share for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s 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 sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $161,639.80. This trade represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 334,306 shares of company stock valued at $97,300,651. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cache Advisors LLC bought a new stake in Coinbase Global in the fourth quarter valued at about $1,587,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $928,000. Sunbelt Securities Inc. raised its position in shares of Coinbase Global by 14.9% in the 4th quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock valued at $204,000 after acquiring an additional 104 shares during the period. Alpine Global Management LLC bought a new position in Coinbase Global during the 4th quarter worth approximately $640,000. Finally, Vise Technologies Inc. boosted its stake in Coinbase Global by 56.1% during the 4th quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock worth $976,000 after acquiring an additional 1,413 shares during the last quarter. 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.