Coinbase Global (NASDAQ:COIN) Upgraded at B. Riley

B. Riley upgraded shares of Coinbase Global (NASDAQ:COIN) to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

A number of other brokerages have also recently weighed in on COIN. Bank of America decreased their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. 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 research report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, HC Wainwright decreased their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $242.82.

Coinbase Global Stock Up 5.1 %

Shares of NASDAQ COIN opened at $209.16 on Tuesday. Coinbase Global has a 52-week low of $70.42 and a 52-week high of $283.48. The firm has a fifty day moving average of $180.91 and a 200-day moving average of $210.60. The stock has a market capitalization of $51.36 billion, a PE ratio of 41.75 and a beta of 3.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned ($0.42) earnings per share. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. On average, analysts anticipate that Coinbase Global will post 3.92 EPS for the current year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares in the company, valued at approximately $45,428,243. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares in the company, valued at $45,428,243. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,187 shares of company stock worth $13,158,294. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $294,000. Park Avenue Securities LLC acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $231,000. APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $108,434,000. Sunbelt Securities Inc. increased its stake in shares of Coinbase Global by 203.0% in the first quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange’s stock valued at $80,000 after purchasing an additional 201 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $1,591,000. Institutional investors and hedge funds 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.