Coinbase Global (NASDAQ:COIN) Given New $330.00 Price Target at Needham & Company LLC

Coinbase Global (NASDAQ:COIN) had its price target reduced by Needham & Company LLC from $420.00 to $330.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Other research analysts have also recently issued reports about the stock. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. Finally, HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $284.06.

Coinbase Global Price Performance

COIN opened at $274.49 on Friday. Coinbase Global has a 12-month low of $125.81 and a 12-month high of $349.75. The company has a market cap of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $285.22 and a two-hundred day simple moving average of $236.89.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 15,858 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.98, for a total transaction of $4,741,224.84. Following the completion of the sale, the insider now owns 21,019 shares of the company’s stock, valued at approximately $6,284,260.62. The trade was a 43.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 401,798 shares of company stock worth $119,826,444 in the last three months. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. lifted its holdings in Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC increased its stake in Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares during the period. 68.84% of the stock is owned by hedge funds and other 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.