Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $314.72

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $314.72.

Several brokerages recently issued reports on COIN. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Canaccord Genuity Group upped their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Coinbase Global in the 4th quarter worth about $252,000. Virtu Financial LLC purchased a new position in shares of Coinbase Global during the third quarter worth approximately $3,866,000. Blueshift Asset Management LLC raised its stake in shares of Coinbase Global by 916.8% during the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after acquiring an additional 16,998 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $591,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $188.58 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a fifty day moving average price of $241.79 and a 200-day moving average price of $241.51. The stock has a market cap of $47.88 billion, a PE ratio of 19.85 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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%. Equities analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

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.