Coinbase Global (NASDAQ:COIN) Coverage Initiated by Analysts at Sanford C. Bernstein

Research analysts at Sanford C. Bernstein started coverage on shares of Coinbase Global (NASDAQ:COIN) in a research note issued on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $310.00 price target on the cryptocurrency exchange’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 64.06% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Mizuho decreased their target price 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, Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research report on Friday, March 7th. They set a “buy” rating and a $305.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $322.78.

Coinbase Global Trading Up 3.2 %

NASDAQ COIN traded up $5.84 during trading hours on Monday, reaching $188.96. The company’s stock had a trading volume of 7,132,143 shares, compared to its average volume of 9,765,839. The firm has a fifty day simple moving average of $255.08 and a 200-day simple moving average of $241.14. The stock has a market cap of $47.97 billion, a P/E ratio of 19.89 and a beta of 3.66. 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 current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. Equities analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the company. SOA Wealth Advisors LLC. lifted its position in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after purchasing an additional 40 shares during the last quarter. Empowered Funds LLC lifted its position in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the last quarter. Yousif Capital Management LLC lifted its position in Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC lifted its position in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares during the last quarter. 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.