Coinbase Global (NASDAQ:COIN) Price Target Raised to $310.00 at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its price objective lifted by Piper Sandler from $285.00 to $310.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the cryptocurrency exchange’s stock.

A number of other equities analysts have also recently weighed in on the company. Barclays boosted their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Finally, Oppenheimer cut their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.17.

Coinbase Global Trading Down 8.0 %

COIN opened at $274.31 on Friday. The firm has a market cap of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The business’s 50 day moving average is $280.97 and its two-hundred day moving average is $238.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 14.81% and a net margin of 29.76%. On average, research analysts predict that Coinbase Global will post 4.81 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 386,798 shares of company stock valued at $114,707,944. 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 made changes to their positions in COIN. Vanguard Group Inc. boosted its stake in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after buying an additional 127,075 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Finally, Norges Bank purchased a new stake in Coinbase Global during the 4th quarter valued at $536,484,000. 68.84% of the stock is owned by 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.