Coinbase Global, Inc. (NASDAQ:COIN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $397.6310.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their target price on Coinbase Global from $368.00 to $314.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. UBS Group set a $404.00 target price on shares of Coinbase Global in a report on Friday, October 24th. BTIG Research lifted their price target on shares of Coinbase Global from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, China Renaissance upped their price objective on shares of Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd.

Coinbase Global Trading Up 3.8%

Shares of NASDAQ COIN opened at $274.92 on Friday. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a market capitalization of $74.13 billion, a P/E ratio of 23.78 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The company’s 50 day simple moving average is $320.11 and its 200 day simple moving average is $318.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. On average, analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 1,787 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $244.49, for a total transaction of $436,903.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 11,955 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $246.18, for a total transaction of $2,943,081.90. Following the completion of the transaction, the insider directly owned 75,811 shares in the company, valued at approximately $18,663,151.98. The trade was a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 762,995 shares of company stock valued at $235,840,503. 17.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Advocates LLC bought a new position in Coinbase Global during the 3rd quarter worth about $156,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Coinbase Global during the third quarter worth about $370,000. CIBC Private Wealth Group LLC grew its holdings in shares of Coinbase Global by 20.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,319 shares of the cryptocurrency exchange’s stock worth $445,000 after buying an additional 220 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Coinbase Global during the third quarter worth about $10,224,000. Finally, Kensington Investment Counsel LLC raised its position in Coinbase Global by 7.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 808 shares of the cryptocurrency exchange’s stock valued at $273,000 after buying an additional 53 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.