Coinbase Global (NASDAQ:COIN) Stock Rating Upgraded by Sanford C. Bernstein

Coinbase Global (NASDAQ:COIN) was upgraded by research analysts at Sanford C. Bernstein to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on COIN. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Barclays lifted their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Coinbase Global Trading Up 4.8 %

Shares of NASDAQ:COIN opened at $189.75 on Tuesday. The company has a market cap of $48.17 billion, a P/E ratio of 19.97 and a beta of 3.66. The stock’s 50-day moving average is $250.03 and its 200-day moving average is $240.77. Coinbase Global has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts predict that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 in the last quarter. Insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.