Coinbase Global (NASDAQ:COIN) Now Covered by Monness Crespi & Hardt

Research analysts at Monness Crespi & Hardt assumed coverage on shares of Coinbase Global (NASDAQ:COIN) in a note issued to investors on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $245.00 price target on the cryptocurrency exchange’s stock. Monness Crespi & Hardt’s target price would suggest a potential upside of 15.02% from the company’s current price.

Other analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Bank of America reduced their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Barclays increased their price objective on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $242.94.

Coinbase Global Trading Up 3.9 %

NASDAQ COIN opened at $213.00 on Monday. The business’s fifty day moving average is $181.15 and its 200-day moving average is $209.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $52.31 billion, a price-to-earnings ratio of 42.42 and a beta of 3.35. Coinbase Global has a one year low of $71.88 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the company posted ($0.42) earnings per share. Equities research analysts predict that Coinbase Global will post 3.92 EPS for the current year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,187 shares of company stock worth $13,158,294 in the last 90 days. 23.43% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the period. American Century Companies Inc. boosted its position in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd purchased a new position in shares of Coinbase Global during the 1st quarter worth approximately $108,434,000. 68.84% of the stock is owned by institutional investors.

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.