Coinbase Global (NASDAQ:COIN) PT Lowered to $295.00 at HC Wainwright

Coinbase Global (NASDAQ:COIN) had its price target reduced by HC Wainwright from $315.00 to $295.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Several other equities research analysts have also recently weighed in on COIN. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a neutral rating for the company in a research report on Thursday, July 11th. JMP Securities reissued a market outperform rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a market perform rating in a report on Friday, May 3rd. Bank of America raised Coinbase Global from an underperform rating to a neutral rating and lifted their target price for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Finally, Singular Research restated a buy rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $248.38.

Coinbase Global Price Performance

NASDAQ COIN traded up $3.83 during trading hours on Friday, reaching $193.30. 5,471,251 shares of the company’s stock were exchanged, compared to its average volume of 11,268,555. The firm has a fifty day moving average of $233.56 and a 200-day moving average of $215.78. Coinbase Global has a one year low of $69.63 and a one year high of $283.48. The stock has a market cap of $47.47 billion, a PE ratio of 38.81 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted ($0.42) EPS. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. On average, equities research analysts predict that Coinbase Global will post 4.95 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $943,122.60. The disclosure for this sale can be found here. Insiders have sold 258,601 shares of company stock worth $56,091,678 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its holdings in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter worth $32,000. Crewe Advisors LLC boosted its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the period. Finally, Lynx Investment Advisory bought a new position in Coinbase Global during the 2nd quarter worth about $29,000. 68.84% of the stock is owned by institutional investors.

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.