Coinbase Global (NASDAQ:COIN) PT Raised to $206.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Barclays from $196.00 to $206.00 in a research note issued to investors on Friday, Benzinga reports. Barclays currently has an underweight rating on the cryptocurrency exchange’s stock.

COIN has been the subject of several other reports. JMP Securities restated a market outperform rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Needham & Company LLC restated a buy rating and set a $260.00 price target on shares of Coinbase Global in a report on Friday, July 19th. Sanford C. Bernstein raised their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a market perform rating in a report on Thursday, April 18th. HC Wainwright decreased their price target on shares of Coinbase Global from $315.00 to $295.00 and set a buy rating for the company in a report on Friday. Finally, The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $255.00 to $215.00 and set a neutral rating for the company in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global has an average rating of Hold and a consensus target price of $245.27.

Coinbase Global Trading Down 3.9 %

Shares of Coinbase Global stock traded down $8.20 during trading on Friday, hitting $204.44. The stock had a trading volume of 10,063,929 shares, compared to its average volume of 8,342,275. The stock has a 50 day simple moving average of $234.52 and a 200 day simple moving average of $214.19. The company has a market capitalization of $50.20 billion, a PE ratio of 40.81 and a beta of 3.40. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global has a 1 year low of $69.63 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. On average, research analysts expect that Coinbase Global will post 4.95 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $380,530.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,601 shares of company stock worth $56,091,678. 23.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares during the period. Norges Bank bought a new stake in Coinbase Global in the 4th quarter valued at $202,936,000. a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $147,646,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Coinbase Global by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after purchasing an additional 37,847 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.