Coinbase Global (NASDAQ:COIN) Given New $221.00 Price Target at Cantor Fitzgerald

Coinbase Global (NASDAQ:COIN) had its target price cut by Cantor Fitzgerald from $277.00 to $221.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the cryptocurrency exchange’s stock.

Other research analysts have also issued research reports about the stock. Oppenheimer dropped their price target on Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. China Renaissance decreased their target price on Coinbase Global from $479.30 to $301.50 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a report on Monday, November 10th. Rosenblatt Securities increased their price target on Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. Finally, Argus restated a “hold” rating on shares of Coinbase Global in a report on Tuesday, November 25th. Twenty research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $346.22.

View Our Latest Research Report on Coinbase Global

Coinbase Global Stock Performance

Shares of COIN opened at $167.25 on Monday. 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 firm’s 50 day moving average is $233.74 and its 200-day moving average is $289.88. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market capitalization of $45.10 billion, a P/E ratio of 14.47 and a beta of 3.70.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,902 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $250.58, for a total value of $1,478,923.16. Following the transaction, the insider directly owned 497 shares of the company’s stock, valued at $124,538.26. This represents a 92.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 8,050 shares of Coinbase Global stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $250.00, for a total value of $2,012,500.00. Following the sale, the chief financial officer owned 70,664 shares of the company’s stock, valued at approximately $17,666,000. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 307,898 shares of company stock valued at $80,614,931. Insiders own 16.56% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. REAP Financial Group LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd boosted its holdings in Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Coinbase Global during the third quarter worth $29,000. Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the second quarter valued at about $30,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Coinbase Global by 4,400.0% in the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global News Roundup

Here are the key news stories impacting Coinbase Global this week:

Coinbase Global Company Profile

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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