Coinbase Global (NASDAQ:COIN) Raised to “Strong-Buy” at Sanford C. Bernstein

Coinbase Global (NASDAQ:COIN) was upgraded by investment analysts at Sanford C. Bernstein to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on COIN. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Barclays increased their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. JMP Securities boosted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group boosted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.78.

Coinbase Global Stock Up 4.8 %

Coinbase Global stock opened at $189.75 on Tuesday. The stock’s 50 day moving average price is $250.03 and its 200 day moving average price is $240.77. Coinbase Global has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a market cap of $48.17 billion, a PE ratio of 19.97 and a beta of 3.66. 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 (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts predict that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,455 shares of company stock worth $60,955,968. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. 68.84% of the stock is currently 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.