Coinbase Global (NASDAQ:COIN) Earns “Buy” Rating from Needham & Company LLC

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $330.00 target price on the cryptocurrency exchange’s stock. Needham & Company LLC’s price target would indicate a potential upside of 20.04% from the stock’s previous close.

A number of other equities research analysts have also weighed in on COIN. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $286.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $274.90 on Thursday. The business’s 50-day moving average price is $282.81 and its 200-day moving average price is $237.46. Coinbase Global has a 12 month low of $137.13 and a 12 month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.61.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 15,858 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.98, for a total value of $4,741,224.84. Following the completion of the sale, the insider now directly owns 21,019 shares of the company’s stock, valued at $6,284,260.62. This trade represents a 43.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock valued at $114,707,944 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COIN. CWM LLC raised its holdings in shares of Coinbase Global by 4.4% in the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock worth $1,076,000 after acquiring an additional 253 shares during the last quarter. Inspire Investing LLC increased its holdings in Coinbase Global by 33.2% during the 3rd quarter. Inspire Investing LLC now owns 1,587 shares of the cryptocurrency exchange’s stock worth $283,000 after purchasing an additional 396 shares in the last quarter. Creative Planning raised its stake in shares of Coinbase Global by 42.5% in the third quarter. Creative Planning now owns 71,545 shares of the cryptocurrency exchange’s stock worth $12,747,000 after purchasing an additional 21,335 shares during the last quarter. Swedbank AB lifted its holdings in shares of Coinbase Global by 1.6% in the third quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock valued at $8,233,000 after purchasing an additional 730 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Coinbase Global by 65.9% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,966 shares of the cryptocurrency exchange’s stock valued at $885,000 after buying an additional 1,972 shares during the last quarter. 68.84% of the stock is owned by 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.