Coinbase Global (NASDAQ:COIN) PT Lowered to $196.00

Coinbase Global (NASDAQ:COIN) had its price target decreased by equities researchers at Barclays from $204.00 to $196.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s target price points to a potential downside of 8.68% from the stock’s previous close.

Several other research analysts have also recently commented on COIN. Canaccord Genuity Group raised their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Oppenheimer raised their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Sanford C. Bernstein lifted their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $212.83.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $214.63 on Wednesday. The firm has a 50-day moving average of $227.73 and a two-hundred day moving average of $205.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $52.71 billion, a price-to-earnings ratio of 42.84 and a beta of 3.40. Coinbase Global has a twelve month low of $69.63 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. As a group, analysts expect that Coinbase Global will post 5.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares in the company, valued at $529,287.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at $529,287.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The disclosure for this sale can be found here. Insiders sold a total of 314,136 shares of company stock worth $68,855,464 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COIN. Strategic Advocates LLC grew its stake in shares of Coinbase Global by 31.5% in the 2nd quarter. Strategic Advocates LLC now owns 2,942 shares of the cryptocurrency exchange’s stock valued at $654,000 after buying an additional 705 shares during the period. Smith Anglin Financial LLC raised its stake in Coinbase Global by 44.0% during the 2nd quarter. Smith Anglin Financial LLC now owns 1,611 shares of the cryptocurrency exchange’s stock worth $358,000 after acquiring an additional 492 shares in the last quarter. Simplicity Wealth LLC grew its position in Coinbase Global by 11.5% during the 2nd quarter. Simplicity Wealth LLC now owns 3,752 shares of the cryptocurrency exchange’s stock worth $834,000 after purchasing an additional 387 shares during the last quarter. Fiduciary Alliance LLC boosted its holdings in shares of Coinbase Global by 102.7% in the second quarter. Fiduciary Alliance LLC now owns 8,332 shares of the cryptocurrency exchange’s stock valued at $1,896,000 after acquiring an additional 4,222 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. 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.