Coinbase Global (NASDAQ:COIN) Price Target Lowered to $340.00 at The Goldman Sachs Group

Coinbase Global (NASDAQ:COIN) had its price target reduced by investment analysts at The Goldman Sachs Group from $397.00 to $340.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the cryptocurrency exchange’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 30.94% from the stock’s previous close.

Several other brokerages also recently weighed in on COIN. Needham & Company LLC boosted their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Oppenheimer upped their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $285.28.

Coinbase Global Trading Down 0.1 %

COIN traded down $0.34 during trading on Friday, hitting $259.67. The company’s stock had a trading volume of 2,848,283 shares, compared to its average volume of 7,209,158. The firm’s 50 day moving average price is $285.74 and its 200-day moving average price is $229.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $65.01 billion, a PE ratio of 44.31 and a beta of 3.59. Coinbase Global has a twelve month low of $114.51 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. On average, analysts expect that Coinbase Global will post 4.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 328,483 shares of company stock worth $96,470,997. Insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in shares of Coinbase Global during the fourth quarter worth about $327,000. Fulton Bank N.A. grew its position in shares of Coinbase Global by 1.6% during the fourth quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange’s stock worth $1,369,000 after acquiring an additional 87 shares during the last quarter. Silverleafe Capital Partners LLC bought a new position in shares of Coinbase Global during the fourth quarter worth about $358,000. Nordea Investment Management AB grew its position in shares of Coinbase Global by 5.9% during the fourth quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange’s stock worth $3,772,000 after acquiring an additional 836 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Coinbase Global during the fourth quarter worth about $1,207,000. 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.