Coinbase Global (NASDAQ:COIN) PT Lowered to $196.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its target price reduced by Barclays from $204.00 to $196.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an underweight rating on the cryptocurrency exchange’s stock.

COIN has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a neutral rating in a research report on Friday, March 15th. Singular Research restated a buy rating on shares of Coinbase Global in a research report on Wednesday, May 8th. HC Wainwright restated a buy rating and set a $315.00 price objective on shares of Coinbase Global in a research report on Tuesday, June 18th. Bank of America upgraded Coinbase Global from an underperform rating to a neutral rating and raised their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Finally, Needham & Company LLC restated a buy rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $220.65.

Coinbase Global Stock Performance

Shares of COIN stock opened at $218.02 on Wednesday. The business’s 50-day moving average price is $227.63 and its 200-day moving average price is $205.85. Coinbase Global has a 12 month low of $69.63 and a 12 month high of $283.48. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 43.52 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Equities research analysts forecast that Coinbase Global will post 5 EPS for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the transaction, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $943,122.60. The disclosure for this sale can be found here. Insiders sold a total of 314,136 shares of company stock worth $68,855,464 over the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of COIN. Morgan Stanley lifted its position in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Coinbase Global by 31.8% during the 3rd quarter. Wellington Management Group LLP now owns 50,925 shares of the cryptocurrency exchange’s stock valued at $3,823,000 after buying an additional 12,301 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the last quarter. Symmetry Partners LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at $224,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at $672,000. Hedge funds and other 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.