Coinbase Global (NASDAQ:COIN) Given New $190.00 Price Target at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Piper Sandler from $180.00 to $190.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other research analysts have also recently issued reports on COIN. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target on the stock. Monness Crespi & Hardt cut Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $268.65.

Coinbase Global Stock Down 3.4 %

Coinbase Global stock opened at $199.47 on Friday. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $349.75. The business has a fifty day moving average price of $187.38 and a 200-day moving average price of $242.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. Equities research analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. The trade was a 10.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,742 shares of company stock worth $32,639,759. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mascagni Wealth Management Inc. purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter valued at $26,000. Bessemer Group Inc. lifted its holdings in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. Finally, Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.