Coinbase Global (NASDAQ:COIN) Price Target Raised to $204.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Barclays from $175.00 to $204.00 in a report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the cryptocurrency exchange’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Bank of America increased their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Price Performance

NASDAQ:COIN traded up $10.81 during mid-day trading on Thursday, hitting $190.06. 4,624,445 shares of the company’s stock traded hands, compared to its average volume of 10,402,267. Coinbase Global has a 1 year low of $80.81 and a 1 year high of $283.48. The company has a market cap of $47.23 billion, a PE ratio of 32.48 and a beta of 3.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day simple moving average is $181.56 and its 200 day simple moving average is $209.01.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 15.38% and a net margin of 29.76%. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.42) EPS. Sell-side analysts expect that Coinbase Global will post 4.11 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,687 shares of company stock worth $14,908,594 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Hedge funds have recently modified their holdings of the company. APEIRON CAPITAL Ltd bought a new position in shares of Coinbase Global during the first quarter valued at $108,434,000. Norden Group LLC bought a new stake in shares of Coinbase Global in the 1st quarter valued at $314,000. First Trust Direct Indexing L.P. raised its holdings in shares of Coinbase Global by 26.1% in the first quarter. First Trust Direct Indexing L.P. now owns 3,817 shares of the cryptocurrency exchange’s stock valued at $1,012,000 after purchasing an additional 790 shares during the last quarter. Principal Financial Group Inc. grew its position in Coinbase Global by 36.1% in the first quarter. Principal Financial Group Inc. now owns 14,541 shares of the cryptocurrency exchange’s stock valued at $3,855,000 after purchasing an additional 3,855 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in Coinbase Global during the first quarter worth about $263,000. 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.