Coinbase Global (NASDAQ:COIN) Price Target Raised to $206.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective raised by Barclays from $196.00 to $206.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an underweight rating on the cryptocurrency exchange’s stock.

Several other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a market perform rating in a report on Friday, May 3rd. Oppenheimer boosted their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Singular Research reissued a buy rating on shares of Coinbase Global in a report on Wednesday, May 8th. Canaccord Genuity Group reissued a buy rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday. Finally, Bank of America raised shares of Coinbase Global from an underperform rating to a neutral rating and boosted their price objective for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $245.27.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded down $8.20 during midday trading on Friday, hitting $204.44. The stock had a trading volume of 10,063,929 shares, compared to its average volume of 8,342,275. The company has a market capitalization of $50.20 billion, a PE ratio of 40.81 and a beta of 3.40. The stock has a 50 day moving average price of $234.52 and a two-hundred day moving average price of $214.19. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global has a 1 year low of $69.63 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. As a group, equities analysts predict that Coinbase Global will post 4.95 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 15,580 shares of the company’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 transaction of $3,727,982.40. Following 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. In other Coinbase Global news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the transaction, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at $529,287.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,601 shares of company stock valued at $56,091,678. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently bought and sold shares of COIN. Raymond James & Associates increased its position in shares of Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares in the last quarter. Leavell Investment Management Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $204,000. Arizona State Retirement System increased its position in shares of Coinbase Global by 2.4% in the fourth quarter. Arizona State Retirement System now owns 46,986 shares of the cryptocurrency exchange’s stock worth $8,172,000 after acquiring an additional 1,101 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Coinbase Global by 0.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,114 shares of the cryptocurrency exchange’s stock worth $12,135,000 after acquiring an additional 402 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $34,422,000. Hedge funds and other institutional investors 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.