Coinbase Global, Inc. (NASDAQ:COIN) Given Average Rating of “Hold” by Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $284.17.

Several brokerages have recently commented on COIN. HC Wainwright reiterated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday. Barclays increased their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th.

Coinbase Global Trading Up 7.6 %

NASDAQ COIN opened at $274.89 on Thursday. The company has a market capitalization of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The company’s fifty day moving average price is $289.78 and its two-hundred day moving average price is $230.14.

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

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,936,968.98. This trade represents a 68.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,333 shares of company stock worth $95,092,118. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Clear Street Derivatives LLC acquired a new position in Coinbase Global during the third quarter worth about $409,919,000. Renaissance Technologies LLC raised its holdings in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares in the last quarter. American Century Companies Inc. lifted its stake in Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares in the last quarter. Finally, Azora Capital LP grew its position in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares during the last quarter. Institutional investors 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.