Barclays Trims Coinbase Global (NASDAQ:COIN) Target Price to $44.00

Coinbase Global (NASDAQ:COIN) had its price objective cut by Barclays from $55.00 to $44.00 in a research report released on Tuesday morning, The Fly reports. They currently have an equal weight rating on the cryptocurrency exchange’s stock.

COIN has been the subject of several other reports. Compass Point lowered their price target on shares of Coinbase Global from $95.00 to $75.00 in a report on Wednesday, October 26th. Atlantic Securities upped their price target on shares of Coinbase Global from $54.00 to $67.00 and gave the stock a neutral rating in a report on Tuesday, September 6th. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $49.00 to $41.00 and set a sell rating for the company in a report on Monday, November 14th. Citigroup lowered their price target on shares of Coinbase Global from $105.00 to $80.00 and set a buy rating for the company in a report on Thursday, November 10th. Finally, Daiwa Capital Markets cut shares of Coinbase Global from a buy rating to a neutral rating and reduced their price objective for the stock from $82.00 to $52.00 in a research note on Wednesday, November 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $89.17.

Coinbase Global Stock Up 5.0 %

Shares of COIN opened at $45.57 on Tuesday. Coinbase Global has a one year low of $40.61 and a one year high of $331.70. The company has a market cap of $10.34 billion, a P/E ratio of -7.51 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $62.64 and a two-hundred day simple moving average of $65.46.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. The firm had revenue of $590.34 million for the quarter, compared to analyst estimates of $642.76 million. Research analysts forecast that Coinbase Global will post -11.42 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, Director Tobias Lutke acquired 5,894 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were bought at an average price of $62.00 per share, with a total value of $365,428.00. Following the transaction, the director now directly owns 50,101 shares of the company’s stock, valued at $3,106,262. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Coinbase Global news, Director Tobias Lutke bought 5,894 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were bought at an average price of $62.00 per share, for a total transaction of $365,428.00. Following the acquisition, the director now directly owns 50,101 shares of the company’s stock, valued at approximately $3,106,262. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 29,732 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $54.66, for a total transaction of $1,625,151.12. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 77,242 shares of company stock valued at $4,856,505 and have sold 148,457 shares valued at $6,657,299. Insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Tradewinds Capital Management LLC increased its stake in Coinbase Global by 1,210.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 524 shares of the cryptocurrency exchange’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. BDO Wealth Advisors LLC increased its stake in Coinbase Global by 133.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock valued at $25,000 after buying an additional 223 shares during the last quarter. Ellevest Inc. purchased a new stake in Coinbase Global in the 3rd quarter valued at about $26,000. WD Rutherford LLC purchased a new stake in Coinbase Global in the 1st quarter valued at about $28,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 49.31% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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