The Goldman Sachs Group Begins Coverage on Coinbase Global (NASDAQ:COIN)

Investment analysts at The Goldman Sachs Group started coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $195.00 price target on the cryptocurrency exchange’s stock. The Goldman Sachs Group’s target price points to a potential upside of 2.71% from the stock’s current price.

Several other research analysts have also recently issued reports on COIN. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Barclays upped their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler increased their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Rosenblatt Securities assumed coverage on Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Stock Down 0.3 %

Shares of NASDAQ:COIN opened at $189.86 on Thursday. Coinbase Global has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $247.26 and its 200-day simple moving average is $240.47. The company has a market cap of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts predict that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter worth about $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the period. Hedge funds and other 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.