Coinbase Global’s (COIN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Coinbase Global (NASDAQ:COIN) in a report published on Wednesday,Benzinga reports. Rosenblatt Securities currently has a $305.00 price objective on the cryptocurrency exchange’s stock.

A number of other research firms have also commented on COIN. JMP Securities raised their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Oppenheimer reaffirmed 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Stock Down 7.8 %

Shares of NASDAQ:COIN opened at $173.93 on Wednesday. The company has a 50 day moving average price of $239.36 and a two-hundred day moving average price of $241.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $44.16 billion, a PE ratio of 18.31 and a beta of 3.66. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75.

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

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the fourth quarter valued at $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds 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.