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

Coinbase Global, Inc. (NASDAQ:COIN) has received an average recommendation of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $163.70.

COIN has been the subject of a number of recent analyst reports. Barclays lifted their price objective on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Piper Sandler upped their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Finally, Wedbush lifted their price target on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 16th.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $131.90, for a total transaction of $12,904,568.40. Following the completion of the sale, the director now owns 201,744 shares in the company, valued at approximately $26,610,033.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $131.90, for a total value of $12,904,568.40. Following the completion of the transaction, the director now owns 201,744 shares of the company’s stock, valued at $26,610,033.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 660,039 shares of company stock valued at $109,435,051. 33.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares during the last quarter. Mariner LLC lifted its position in shares of Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after buying an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after buying an additional 125 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $1,035,000. Finally, Barclays PLC raised its stake in Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after acquiring an additional 118,670 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 9.1 %

Shares of COIN stock opened at $223.41 on Tuesday. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $283.48. The company has a market capitalization of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. The firm has a 50-day moving average price of $217.78 and a 200 day moving average price of $152.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. Research analysts forecast that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

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.