Keefe, Bruyette & Woods Cuts Coinbase Global (NASDAQ:COIN) Price Target to $255.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by Keefe, Bruyette & Woods from $275.00 to $255.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

A number of other analysts have also issued reports on COIN. The Goldman Sachs Group dropped their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Monness Crespi & Hardt upped their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $284.17.

Coinbase Global Stock Up 7.6 %

NASDAQ COIN opened at $274.89 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The business has a 50 day moving average price of $289.78 and a two-hundred day moving average price of $230.14. The stock has a market cap of $68.82 billion, a PE ratio of 46.91 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. During the same quarter last year, the company posted ($0.01) earnings per share. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares in the company, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,333 shares of company stock valued at $95,092,118. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its position in shares of Coinbase Global by 24.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock worth $306,000 after buying an additional 268 shares during the period. Acadian Asset Management LLC acquired a new position in Coinbase Global during the 2nd quarter worth $422,000. Quest Partners LLC grew its stake in shares of Coinbase Global by 233.7% in the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 208 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Coinbase Global by 12.7% during the second quarter. Oppenheimer & Co. Inc. now owns 7,794 shares of the cryptocurrency exchange’s stock valued at $1,732,000 after purchasing an additional 881 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Coinbase Global by 23.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 33,522 shares of the cryptocurrency exchange’s stock valued at $7,615,000 after purchasing an additional 6,428 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.