Coinbase Global (NASDAQ:COIN) Price Target Cut to $217.00 by Analysts at Mizuho

Coinbase Global (NASDAQ:COIN) had its price objective cut by Mizuho from $280.00 to $217.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other analysts also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Barclays boosted their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Bank of America dropped their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.89.

Coinbase Global Stock Down 7.4 %

COIN opened at $177.49 on Tuesday. The stock’s 50 day moving average price is $256.83 and its 200 day moving average price is $240.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market cap of $45.06 billion, a P/E ratio of 18.68 and a beta of 3.66. Coinbase Global has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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 return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts predict that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COIN. Principal Financial Group Inc. increased its stake in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares during the last quarter. Assetmark Inc. grew its stake in Coinbase Global by 76.6% in the third quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock valued at $513,000 after purchasing an additional 1,249 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Coinbase Global by 51.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,055 shares of the cryptocurrency exchange’s stock worth $901,000 after purchasing an additional 1,716 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Coinbase Global by 12.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock worth $276,000 after purchasing an additional 173 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Coinbase Global by 8.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock valued at $265,000 after buying an additional 110 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.