Coinbase Global’s (COIN) “Sell” Rating Reiterated at Compass Point

Compass Point reaffirmed their sell rating on shares of Coinbase Global (NASDAQ:COIN) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $180.00 price objective on the cryptocurrency exchange’s stock.

COIN has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Barclays cut their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $289.90.

Coinbase Global Trading Down 1.6 %

Shares of COIN opened at $202.89 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market cap of $51.51 billion, a price-to-earnings ratio of 21.36 and a beta of 3.65. The stock has a fifty day moving average price of $189.18 and a two-hundred day moving average price of $243.08. Coinbase Global has a 52-week low of $142.58 and a 52-week high of $349.75.

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

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,379.44. This trade represents a 97.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,970 shares of company stock worth $38,672,615 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Coinbase Global during the 4th quarter worth about $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global in the 4th quarter valued at $372,450,000. Proficio Capital Partners LLC increased its position in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock worth $101,431,000 after purchasing an additional 333,600 shares during the period. Finally, Wellington Management Group LLP increased its stake in Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.