Coinbase Global (NASDAQ:COIN) Price Target Lowered to $169.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective reduced by equities research analysts at Barclays from $328.00 to $169.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price objective would suggest a potential upside of 7.83% from the stock’s previous close.

A number of other brokerages have also recently issued reports on COIN. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.89.

Coinbase Global Price Performance

NASDAQ:COIN traded down $3.82 during trading hours on Monday, reaching $156.73. 5,938,132 shares of the company were exchanged, compared to its average volume of 9,136,868. The company has a market capitalization of $39.79 billion, a P/E ratio of 16.50 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a 50 day moving average of $226.99 and a 200 day moving average of $243.17. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts forecast that Coinbase Global will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,767 shares of company stock worth $45,798,184 over the last ninety days. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in COIN. The Manufacturers Life Insurance Company lifted its position in shares of Coinbase Global by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock valued at $1,854,000 after acquiring an additional 186 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Coinbase Global by 36.8% during the third quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange’s stock valued at $2,767,000 after purchasing an additional 4,177 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $450,000. Quantinno Capital Management LP increased its position in Coinbase Global by 5.6% in the 3rd quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock valued at $659,000 after buying an additional 195 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Coinbase Global by 45.4% during the 3rd quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange’s stock worth $7,753,000 after buying an additional 13,591 shares during the period. 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.