Coinbase Global (NASDAQ:COIN) Research Coverage Started at Erste Group Bank

Erste Group Bank started coverage on shares of Coinbase Global (NASDAQ:COIN) in a report released on Wednesday, Marketbeat reports. The firm issued a buy rating on the cryptocurrency exchange’s stock.

Other research analysts have also recently issued reports about the company. Citigroup reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, July 14th. William Blair began coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an “outperform” rating on the stock. Barclays raised their target price on shares of Coinbase Global from $202.00 to $359.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday, May 9th. Finally, Argus initiated coverage on shares of Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $320.06.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $391.66 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a market cap of $99.43 billion, a price-to-earnings ratio of 73.34, a price-to-earnings-growth ratio of 30.24 and a beta of 3.70. The stock’s 50-day moving average is $317.61 and its 200-day moving average is $255.95. Coinbase Global has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted $2.53 EPS. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the transaction, the chief financial officer directly owned 97,366 shares in the company, valued at approximately $35,071,233.20. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,208,340 shares of company stock worth $439,997,456 in the last ninety days. 17.65% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in shares of Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares in the last quarter. Amalgamated Bank raised its holdings in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. KCM Investment Advisors LLC acquired a new position in Coinbase Global in the 4th quarter valued at $507,000. GAMMA Investing LLC lifted its position in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after acquiring an additional 84 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of Coinbase Global by 124.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange’s stock worth $453,000 after purchasing an additional 1,454 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.