Coinbase Global (NASDAQ:COIN) Price Target Raised to $472.00

Coinbase Global (NASDAQ:COIN) had its price objective boosted by President Capital from $401.00 to $472.00 in a research report released on Wednesday,MarketScreener reports. President Capital currently has a buy rating on the cryptocurrency exchange’s stock.

Several other research firms have also issued reports on COIN. Cantor Fitzgerald lowered their price objective on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Mizuho raised their price target on Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Keefe, Bruyette & Woods dropped their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $397.36.

Coinbase Global Stock Performance

Coinbase Global stock opened at $309.14 on Wednesday. The company’s 50-day moving average price is $333.93 and its 200-day moving average price is $310.35. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a market cap of $79.43 billion, a PE ratio of 26.74 and a beta of 3.67. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the transaction, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $177,519.74. The trade was a 97.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 205,657 shares of company stock worth $67,989,576. 17.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COIN. Cadent Capital Advisors LLC lifted its holdings in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. raised its holdings in shares of Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its stake in Coinbase Global by 2.0% in the third quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock worth $523,000 after acquiring an additional 30 shares during the period. Elevation Wealth Partners LLC lifted its stake in Coinbase Global by 37.6% in the third quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock worth $39,000 after acquiring an additional 32 shares during the period. Finally, Pettinga Financial Advisors LLC grew its holdings in Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after acquiring an additional 34 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.