Coinbase Global (NASDAQ:COIN) Given New $275.00 Price Target at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective increased by Keefe, Bruyette & Woods from $165.00 to $275.00 in a research note released on Friday,Benzinga reports. They currently have a market perform rating on the cryptocurrency exchange’s stock.

A number of other analysts also recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $286.22.

Coinbase Global Trading Up 1.7 %

COIN opened at $278.71 on Friday. The firm has a market capitalization of $69.78 billion, a PE ratio of 47.56 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company’s 50-day moving average is $269.18 and its 200 day moving average is $227.00.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, research analysts predict that Coinbase Global will post 4.44 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,720 shares of company stock worth $79,787,248 in the last ninety days. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter worth about $25,000. Crewe Advisors LLC raised its position in shares of 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 acquiring an additional 104 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $32,000. Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $33,000. Finally, Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.