Coinbase Global (NASDAQ:COIN) Price Target Lowered to $255.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price target lowered by equities researchers at Keefe, Bruyette & Woods from $275.00 to $255.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 0.14% from the company’s current price.

Several other equities research analysts have also recently weighed in on COIN. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Piper Sandler increased their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays lifted their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Oppenheimer upped their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Needham & Company LLC lifted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $284.17.

Coinbase Global Stock Up 1.7 %

Shares of COIN opened at $255.37 on Monday. The stock’s 50-day moving average price is $289.78 and its two-hundred day moving average price is $230.14. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a market capitalization of $63.93 billion, a PE ratio of 43.58 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, analysts anticipate that Coinbase Global will post 4.44 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,333 shares of company stock valued at $95,092,118 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $409,919,000. Renaissance Technologies LLC lifted its holdings in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the period. Geode Capital Management LLC boosted its position in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP boosted its position in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in Coinbase Global in the 3rd quarter valued at $38,535,000. 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.