Coinbase Global (NASDAQ:COIN) Given New $73.00 Price Target at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Barclays from $80.00 to $73.00 in a research report report published on Wednesday, The Fly reports. Barclays currently has an equal weight rating on the cryptocurrency exchange’s stock.

Several other equities analysts have also recently weighed in on the stock. Mizuho decreased their target price on shares of Coinbase Global from $45.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, July 14th. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $45.00 to $51.00 and gave the stock a sell rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $61.00 to $64.00 and gave the stock a neutral rating in a research report on Wednesday, August 10th. DA Davidson lifted their price objective on shares of Coinbase Global from $90.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, BTIG Research reduced their price objective on shares of Coinbase Global to $220.00 in a research report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of Moderate Buy and an average price target of $163.50.

Coinbase Global Price Performance

NASDAQ:COIN opened at $68.25 on Wednesday. Coinbase Global has a 1-year low of $40.83 and a 1-year high of $368.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $68.41 and a 200 day simple moving average of $104.19. The stock has a market capitalization of $14.98 billion, a PE ratio of -33.56 and a beta of 3.31.

Insider Transactions at Coinbase Global

In related news, Director Tobias Lutke bought 3,930 shares of Coinbase Global stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average cost of $97.24 per share, for a total transaction of $382,153.20. Following the completion of the acquisition, the director now directly owns 29,430 shares of the company’s stock, valued at approximately $2,861,773.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 2,177 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total value of $156,744.00. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $1,974,024. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tobias Lutke purchased 3,930 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average cost of $97.24 per share, for a total transaction of $382,153.20. Following the completion of the purchase, the director now owns 29,430 shares of the company’s stock, valued at approximately $2,861,773.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 18,707 shares of company stock worth $1,497,826. Insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in the business. Hilltop Holdings Inc. lifted its stake in Coinbase Global by 2.8% in the fourth quarter. Hilltop Holdings Inc. now owns 2,540 shares of the cryptocurrency exchange’s stock valued at $641,000 after buying an additional 70 shares during the period. Epic Trust Investment Advisors LLC lifted its stake in Coinbase Global by 6.4% in the first quarter. Epic Trust Investment Advisors LLC now owns 1,250 shares of the cryptocurrency exchange’s stock valued at $237,000 after buying an additional 75 shares during the period. Sargent Bickham Lagudis LLC lifted its stake in Coinbase Global by 34.4% in the first quarter. Sargent Bickham Lagudis LLC now owns 352 shares of the cryptocurrency exchange’s stock valued at $67,000 after buying an additional 90 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $25,000. Finally, Warren Averett Asset Management LLC lifted its stake in Coinbase Global by 8.9% in the fourth quarter. Warren Averett Asset Management LLC now owns 1,229 shares of the cryptocurrency exchange’s stock valued at $239,000 after buying an additional 100 shares during the period. 49.31% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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