Coinbase Global, Inc. (NASDAQ:COIN) shares hit a new 52-week low on Thursday after Piper Sandler lowered their price target on the stock from $440.00 to $360.00. Piper Sandler currently has an overweight rating on the stock. Coinbase Global traded as low as $156.01 and last traded at $163.16, with a volume of 38130 shares changing hands. The stock had previously closed at $172.74.
A number of other research firms also recently issued reports on COIN. Oppenheimer cut their target price on shares of Coinbase Global from $444.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday. Canaccord Genuity Group cut their target price on shares of Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity Group cut their target price on shares of Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a research report on Friday. Rosenblatt Securities increased their target price on shares of Coinbase Global from $420.00 to $455.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. Finally, The Goldman Sachs Group cut their target price on shares of Coinbase Global from $288.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $341.09.
In related news, insider Surojit Chatterjee sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, January 4th. The shares were sold at an average price of $253.41, for a total value of $2,534,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,312 shares of the firm’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $253.99, for a total transaction of $2,619,144.88. The disclosure for this sale can be found here. Insiders sold a total of 146,048 shares of company stock worth $42,861,117 in the last quarter.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobi Capital Management LLC grew its position in Coinbase Global by 2.1% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,454 shares of the cryptocurrency exchange’s stock worth $331,000 after purchasing an additional 30 shares during the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Coinbase Global by 0.5% during the 3rd quarter. United Capital Financial Advisers LLC now owns 7,453 shares of the cryptocurrency exchange’s stock valued at $1,695,000 after acquiring an additional 37 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Coinbase Global by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 1,758 shares of the cryptocurrency exchange’s stock valued at $400,000 after acquiring an additional 49 shares in the last quarter. Center for Financial Planning Inc. boosted its position in shares of Coinbase Global by 40.2% during the 4th quarter. Center for Financial Planning Inc. now owns 178 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 51 shares in the last quarter. Finally, Blue Square Asset Management LLC boosted its position in shares of Coinbase Global by 1.1% during the 4th quarter. Blue Square Asset Management LLC now owns 4,701 shares of the cryptocurrency exchange’s stock valued at $1,186,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 26.28% of the company’s stock.
The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $215.86 and its two-hundred day moving average price is $256.74.
Coinbase Global (NASDAQ:COIN – Get Rating) last issued its earnings results on Thursday, February 24th. The cryptocurrency exchange reported $3.32 earnings per share for the quarter, beating the consensus estimate of $1.94 by $1.38. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $1.99 billion. Coinbase Global had a net margin of 49.96% and a return on equity of 89.37%. Coinbase Global’s revenue for the quarter was up 325.6% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 13.22 earnings per share for the current year.
Coinbase Global Company Profile (NASDAQ:COIN)
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.
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