Coinbase Global (NASDAQ:COIN) PT Lowered to $255.00 at The Goldman Sachs Group

Coinbase Global (NASDAQ:COIN) had its target price decreased by The Goldman Sachs Group from $295.00 to $255.00 in a research report report published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the cryptocurrency exchange’s stock.

A number of other analysts have also recently issued reports on COIN. Needham & Company LLC decreased their target price on Coinbase Global from $275.00 to $260.00 and set a buy rating for the company in a research report on Friday. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a research report on Tuesday, March 12th. Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a neutral rating in a report on Friday, March 15th. Finally, Citigroup boosted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a neutral rating in a research note on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of Hold and an average price target of $192.60.

Coinbase Global Trading Down 2.4 %

Shares of NASDAQ:COIN opened at $223.25 on Friday. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The company’s 50 day moving average is $236.37 and its two-hundred day moving average is $167.06.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same period in the prior year, the company posted ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 420,597 shares of company stock valued at $86,053,862. 33.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global during the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $27,000. Concord Wealth Partners boosted its stake in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter valued at about $32,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.